GAIN Capital Holdings, Inc. has been selected as a primary clearing partner for Korea Investment & Securities Co., Ltd, (KIS).
GAIN is now providing KIS with real-time pricing, execution, settlement and custody services in support of its recently launched margin FX business.
Margin FX trading among retail investors has surged in Korea over the past few years. According to the Korean Financial Service Commission (FSC), South Korean investors’ foreign exchange margin trading activity increased 594% from 2007 to 2008, reaching 454 trillion won in 2008 compared to 65 trillion in 2007. In 2009, an estimated 361 trillion won was traded in the first five months of 2009 alone, with retail investors accounting for 99% of all transactions.
Jin Tae Kim, Managing Director:
“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. 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 Capital:
“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.”
L.D.