한국거래소가 24일 국내 최초의 금 현물 거래 시장인 KRX 금시장을 개장했다.
이를 통해서 그동안 주로 음지에서 이루어진 금의 거래를 양성화시키고 부진한 파생상품 시장에 활기를 불어넣겠다는 복안이다.
“KRX 금시장은 실 거래자들과 잠정적 투자자들에게 안정적이고 효율적인 거래 환경을 제공할 것"이라고 거래소 파생상품본부 윤석윤 상무는 21일 금 시장 개장 관련 간담회에서 전했다.
지난 몇 년 간의 시세 변동에도 불구하고 금은 여전히 안정적인 투자 상품이며 이를 양성화했을 때의 이득이 클 것이라는 게 거래소 측의 설명이다.
KRX 금 시장의 대상 상품은 순도 99.9%의 1kg 골드바이며, 시장의 운영과 결제는 한국거래소가, 금의 예치와 인출은 예탁결제원이, 그리고 품질 검사와 인증은 한국조폐공사가 담당하게 된다.
소규모 개인 매수자의 참여를 유도하기 위하여 매매 및 호가는 1g로 정했지만 예치 및 인출은 1kg부터 가능하다.
현재까지 9개의 증권사와 49개의 실물사업자가 등록했으며 비등록 업체나 개인은 등록업체를 통해서만 거래할 수 있다.
금은 연간 100톤도 넘게 국내 유통되고 있지만 통계 추적이 안 되는 밀수 수량도 많은 데다가 증여세 및 상속세를 피해서 현물 상속하는 수단으로 자주 남용되는 현황이다.
이를 규제하고 시장을 활성화하기 위해서 거래소 측은 개장 이후 1년간 거래수수료 면제 등 여러 가지 혜택을 제공하겠다고 밝혔다. 하지만 거래자 입장에서는 거래 내역을 투명하게 밝혀야 하는 부담이 있기 때문에 금시장 개장 이후에도 음성적 거래는 계속될 것으로 보인다.
(코리아헤럴드 배현정 기자 tellme@heraldcorp.com)
KRX out to build new momentum on gold tradingGold Market to pave the way for reliable and affordable trading
Gold, due to its tangible form and relatively sustainable value, has been a highly appreciated asset throughout the ages but, ironically, transactions have remained largely unregulated.
The nation’s stock operator, the Korea Exchange, has now set its sights on this extensive “hidden” market, seeing it as an opportunity to revive the long-stalled derivative sector and, ultimately, to step up its financial leverage.
The KRX Gold Market sets sail on Monday, enabling securities firms and dealers to participate in gold trading under explicit rules and at a reasonably cheap price, according to KRX officials.
“The KRX Gold Market will offer a stable and efficient trading environment for dealers and potential investors,” said Yoon Seok-yoon, executive director of the KRX derivative market headquarters on Friday.
“Gold, despite the price fluctuations over the past years, is still a highly reliable investment and needs to be incorporated into a publicly authorized market.”
While the KRX will handle the actual market operations and payment settlement, the Korea Securities Depository is to supervise the storage and withdrawal of gold and the Korea Minting, Securities Printing & ID Card Operating Corp. is to do inspections and certify the quality.
Trading may take place in gram units, but the actual deposits and withdrawals must be in the form of 1-kilogram gold bars, according to officials.
Taking the first step in gold trading
So far, nine securities companies and 49 actual dealers have registered as members. Individual buyers or non-member companies may participate in the deals via the registered securities firms.
Korea is currently estimated to have a yearly transaction volume of 100 tons or more in gold, but the exact figure has not been determined due to the lack of related regulations and rampant smuggling, according to the Financial Services Commission.
Also, gold is frequently preferred by those who wish to create secret funds or to evade inheritance taxes as it is far less traceable than bank account records or stocks.
“We expect around 20 percent of the actual deals to flow into the KRX Gold Market in the future,” said Gong Do-hyun, operation manager of the KRX Gold Market.
Though a large number of unregulated transactions will continue to take place, the establishment of a credible market will greatly reform the structure of the domestic securities business, according to the official.
“The KRX Gold Market is a part of the government’s plan to bring the underground economy into the light,” Yoon added.
The state-run stock operator also hopes that the success of the gold trading business may add vigor to the derivative sector, which has largely been stale since the global financial crisis.
In an aim to encourage hidden dealers to step into the open market, the KRX will exempt member companies from transaction fees until March next year.
But the market continues to remain prudent as it is still uncertain whether the benefits offered by the KRX Gold Market will indeed exceed the financial profits made by under-the-counter deals.
The KRX operated a mock trading system back in February, in the hope of inviting more companies to participate in the new business, but less than 10 companies actually accessed the system during the period.
“We expect it will take about two years for the market to become established,” Yoon said.
By Bae Hyun-jung (
tellme@heraldcorp.com)