KIDB-Icap gets approval to launch Korean interdealer broking business
Icap, the world’s largest interdealer broker, said its Korean joint venture KIDB-Icap has received final approval from the Ministry of Finance and Economy to launch a new interdealer broking business.
KIDB-Icap is fully staffed and has begun operations in the interest rate and foreign exchange derivatives markets, the broker said in a statement.“This is an untapped market that has great potential for rapid development,” said David Gelber, Icap’s director responsible for Asian businesses. “The Korean government has been working since 2003 to create market regulations and a framework for market-driven financial sector structural reform, moving Korea to become a significant North East Asian financial hub.”Youngsoo Oh, joint chief executive of KIDB-Icap, added: “With the development of Korea’s domestic derivative and capital markets and our connection with the international markets via Icap, KIDB-Icap provides access to liquidity for both the Korean and international banks that are active in these products. We have an opportunity to rapidly build this business as the markets in Korean products evolve and grow.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Most read
- As FCMs dwindle, regulators fear systemic risk
- Top 10 operational risks for 2024
- Top 10 op risks: AI fears drive cyber risk to record high