GAIN picked to clear in Korea
This article appears courtesy of Global Investor
Korea Investment & Securities (KIS) has chosen GAIN Capital Holdings as a primary clearing partner, PR Newswire reports. GAIN will now offer real-time pricing, execution, settlement and custody services to KIS in support of its recently set up margin FX business.
South Korean investors’ foreign exchange margin trading activity increased 594% from 2007 to 2008, reaching $401 billion in 2008 compared to $57.41 billion in 2007. In 2009, an estimated $318.84 billion was traded in the first five months of 2009, with retail investors accounting for 99% of all transactions.