Newedge first foreign broker to get Korean full futures licence
Newedge, a provider of multi-asset brokerage and clearing services, has been granted a full futures licence by the Korea Financial Services Commission for its Korea office.
Newedge is the first foreign company out of the 19 foreign companies which applied for the licence to get approval.
With the licence, Newedge Korea is able to offer all products listed on the Korea Exchange including equities and derivatives.
It will add to Newedge Korea’s current offering – cash equity, stock index contracts and stock futures and options – all the Kofex products listed on the KRX. These include interest rate products, currency products and commodity products. In addition, this full futures licence will allow Newedge Korea to offer offshore futures and options products to domestic clients.
“This full futures licence enables us to better serve our clients by adding new products to our current offering. Our clients expressed a lot of interest in the 3-Years KTB Future and USD/KRW Future. Being the first foreign company in Korea able to offer these products is a great achievement. In addition, we expect a strong demand from local clients to trade all the listed futures and options products that Newedge can offer through its global network of 85 memberships,” says Kevin Lee, managing director of Newedge Korea.
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