Gain Capital, a provider of online trading services, has been selected as a primary clearing partner for Korea Investment & Securities, a subsidiary of Korea’s largest non-bank financial holding company Korea Investment Holdings.
Gain is now providing KIS with real-time pricing, execution, settlement and custody services in support of its recently launched margin FX business.
"KIS selected Gain because of their robust technology infrastructure, their ability to meet our aggressive time to market goals and, most importantly, their professional reputation," says Jin Tae Kim, managing director of KIS. "We are confident that our clients will be extremely pleased with the competitive spreads and the quality of trade executions provided by Gain. We look forward to working closely with Gain as we continue to grow our FX business.”
Margin FX trading among retail investors has surged in Korea over the past few years. According to the Korean Financial Service Commission, South Korean investors’ foreign exchange margin trading activity increased 594 per cent from 2007 to 2008, reaching KRW454trn in 2008 compared to KRW65trn in 2007.
"We are delighted to partner with KIS as they are a leader in retail brokerage with a reputation for excellent customer service," says Tom Levine, senior vice president of institutional sales at Gain Capital. "We’re fully committed to helping all of our partners in Korea take advantage of the tremendous opportunity in retail FX by providing the technology, resources, and financial stability they seek.”
Gain opened an office in Seoul in July last year.
