GL TRADE has opened an office in the financial district of Yoido Dong in Seoul in order to support their local clients.
GL TRADE has been developing its Korean business for three years and has a current customer base of over 20 clients. Up until today, business development and client support was managed directly from the GL TRADE Hong Kong office.
Suk Joon Kim has been appointed head of the Seoul Office.
“GL TRADE considers Korea has strong potential for future development since KOFEX members are now allowed to offer KOSPI products and, if the Commodity Futures Trading Commission recognizes the KOSPI market by end of this year, US investors will be able to directly trade this booming market. Local FCMs on the other hand want to extend their product range for their institutional and retail investors by offering overseas trading on CME and e-CBOT” comments Franck Peltier – Managing Director of GL TRADE Hong Kong.
The Korean Securities firms and FCMs use GL TRADE’s platform GL STREAM to receive orders on KSE-KOSPI-KOFEX, to send orders on CME-eCBOT or for local operations. In Korea, GL TRADE offers connectivity to KSE, KOSPI, KOFEX, KOSDAQ via FIX or Base 21.