[THE INVESTOR] Korean securities firms started to trade Korea Exchange’s flagship KOSPI 200 futures directly with US customers, KRX said on June 21.
KRX, the country’s bourse operator, said it has cleared hurdles that had undermined the sales of Korean derivative products in the US by receiving approvals from two US financial regulators.
“The sales activity related to derivative products is expected to gain momentum in the US,” said Yoo Hee-wook, director of Derivative Product Marketing division.
Korea Exchange.
On June 17, National Futures Association, self-regulatory organization for the US derivatives industry, permitted certain KRX members to solicit and accept orders directly from US investors for trading on KRX.
In February, Commodity Futures Trading Commission also issued an exemption to KRX to permit designated members to deal directly with investors in the US without having to register with the US broker Futures Commission Merchant.
A total of 15 Korean firms, including
Samsung Securities, Daishin Securities, Korea Investment & Securities and Shinhan Financial Investment, will be exempted from the previous regulation
By Park Han-na (
hnpark@heraldcorp.com)
