Newedge first to win Korean licence
Newedge has become the first foreign broker to gain a Korean Full Futures Licence from the Korea Financial Services Commission, the French-owned broker announced today (January 6).
Of the 19 market makers to apply for the license, Newedge’s Seoul office is the first to gain approval.
The licence will allow the firm to offer all products listed on the Korea Exchange (KRX), including equities and derivatives, with effect from January 4 2010.
The firm currently offers all Kofex products listed on the KRX, including cash equity, stock index contracts (including flagship Kospi 200 derivatives) and stock futures and options.
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