SuperDerivatives has signed up Korea's Koram Bank to its online currency options pricing platform.
Seoul-based Koram Bank trades on the Korean won market, which is growing in significance as a result of increasing foreign investment.
Keon-Ho Kang, Koram Bank’s head of FX options, has been using the SuperDerivatives pricing engine system for several months and says it is helping to introduce transparency to the market.
"Many overseas companies have invested in the Korean market and they need to hedge their currency risk effectively and efficiently. To do this requires access to real market prices, and SuperDerivatives consistently provides these," says Kang.
He adds that most other systems only focus on the major currencies.
SuperDerivatives says the deal is a significant move into the emerging markets.
The vendor adds that its platform has been adopted across the currency options spectrum and clients include Citibank, JP Morgan Chase, Merrill Lynch, Societe Generale, Commerzbank and ING.