Investors in Hong Kong-listed securities are turning to alternative liquidity pools more rapidly than other markets, according to Goldman Sachs Electronic Trading (GSET).

GSET has reported a 12-fold increase in average daily trading value over two months following the launch of its alternative trading system (ATS) SIGMA X Hong Kong in March. GSET said this has outpaced other sophisticated markets such as Japan.

The ATS allows Goldman to trade a variety of liquidity participants such as hedge funds, institutions, broker dealers as well as franchises.

Shuya Kekke, managing director and head of GSET Asia, said: "The fast adoption of SIGMA X in Hong Kong demonstrates the market's sophistication and investors' strong appetite for alternative trading systems. We are seeing diversity not only in the types of clients participating, but also in the way they are interacting with SIGMA X, Clients are increasingly providing liquidity directly on the SIGMA X order book and experiencing high cross rates with other participants."