BNY Mellon opens FX trading room in Seoul 12 February 2018Seoul Reporter: Becky Butcher
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BNY Mellon has now opened its foreign exchange (FX) trading room in Seoul.
The new trading room provides liquidity to both domestic clients in Korea looking for exposure to global currencies as well as to counterparties seeking to trade Korean Won (KRW) across the Asia Pacific and worldwide.
Clients using the trading room will be able to execute strategies using various instruments such as FX forwards and non-deliverable forwards.
Mark Militello, head of markets for BNY Mellon in Asia-Pacific, said: 鈥淏NY Mellon is strengthening its capabilities in Korea to provide a more convenient and comprehensive KRW FX trading service to our domestic and international clients, while also helping them conduct their business more efficiently. This reflects our deep commitment to the Korean market and our confidence in the expansion of our FX trading business.鈥�
Ji Sang Don, country executive for BNY Mellon in Korea, added: 鈥淜orea is a strategically important market for BNY Mellon in Asia Pacific. Our commitment to quality service and to Korea鈥檚 financial markets is a key element in establishing an even closer business relationship with our Korean clients.鈥�
In January, the company announced the launch of an FX prime brokerage service, adding a significant new source of liquidity for institutional FX clients.
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