Clients gain greater access to more efficient KRW pricing and enhanced liquidity
Global foreign exchange market participants seeking exposure to Korean Won (KRW) are benefiting from more efficient pricing and enhanced liquidity with BNY Mellon’s Foreign Exchange (FX) Trading Room, now open in Seoul.
BNY Mellon’s Seoul FX Trading Room provides liquidity both to domestic clients in Korea looking for exposure to major global currencies as well as to counterparties seeking to trade KRW across Asia-Pacific and around the globe. Clients transacting through the Trading Room are able to execute strategies using a variety of instruments, including spot, FX forwards and non-deliverable forwards.
“BNY 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,” says Mark Militello, Head of Markets for BNY Mellon in Asia-Pacific.
“Korea is a strategically important market for BNY Mellon in Asia-Pacific. Our commitment to quality service and to Korea’s financial markets is a key element in establishing an even closer business relationship with our Korean clients,” says Ji Sang Don, Country Executive for BNY Mellon in Korea. “In addition, a number of unique service capabilities spanning the investment lifecycle offered by BNY Mellon will add diversity in the local market and enable us to be a stronger partner for our Asian counterparties as we help them fulfill their strategic goals.”
2018 is poised to be an exciting year for BNY Mellon’s FX business globally. In January, the company announced the launch of an FX Prime Brokerage service, adding a significant new source of liquidity for institutional FX clients.
Several other FX initiatives that promise to further improve the trading experience for BNY Mellon clients are also in the works and will be announced later in 2018.
BNY Mellon has been servicing clients in Asia-Pacific for over 100 years and first opened its Seoul branch office in 1988. Launching Corporate Trust services for Korea’s offshore sovereign securities in 1991, BNY Mellon was the Collateral Management agent for the first tri-party equity financing trade in Korea in 2008.
BNY Mellon provides comprehensive financial services to the Korean institutional and wholesale marketplace including securities servicing, asset management, corporate trust, treasury services and other investment solutions.
In 2015, BNY Mellon acted as trustee for Korea’s first covered bond issuance under the Covered Bond Act in Korea, and in 2016 received All Asset Trust License status in Korea to provide trustee services for the domestic market, expanding its international services to Korean clients.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2017, BNY Mellon had $33.3 trillion in assets under custody and/or administration, and $1.9 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.