Bank of China allowed to trade derivatives products in South Korea

By Park Sae-jin Posted : September 21, 2016, 18:28 Updated : September 21, 2016, 18:28

[Aju News DB]


Bank of China won approval Wednesday from financial regulators to trade derivatives products, becoming the first Chinese financial institution to enter South Korea's derivatives market.

The Financial Services Commission said the Seoul branch of Bank of China, one of China's fourth-largest lenders, was allowed to trade derivatives in the Korean exchange. The Chinese bank is expected to play a leading role in the transaction of yuan currency futures listed on the Korea Exchange last year.

Three South Korean financial companies including Mirae Asset Daewoo offer liquidity for yuan currency futures trading, but trading volume has been low. China Merchants Securities is also seeking to broker overseas stocks and derivative products in South Korea.

Aju News Lim Chang-won = cwlim34@ajunews.om
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