FX news: Gain and KIS are TrueFriends
Gain Capital announced on Monday that it has been selected as a primary clearing partner for Korea Investment & Securities (KIS).
KIS is a subsidiary of Korea Investment Holdings, Korea’s largest non-bank financial holding company. Gain, which opened an office in Seoul last year, is now providing KIS with real-time pricing, execution, settlement and custody services in support of its recently launched margin FX business, TrueFriend.com.
Jin Tae Kim, managing director at KIS, says: “We selected Gain because of their robust technology infrastructure, their ability to meet our aggressive time-to-market goals and, most importantly, their professional reputation.
“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.”
Tom Levine, senior vice-president of institutional sales at Gain, says: “We are delighted to partner with KIS as they are a leader in retail brokerage with a reputation for excellent customer service. 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.”