Parisian trading systems vendor GL Trade is teaming with Seoul-based LG Futures to enable users of its proprietary network GL Net to trade on the Korean Futures Exchange (Kofex).
Created in 1999, Kofex has an average of 50,000 contracts traded daily. While membership is dominated by local brokers, LG Futures says there has been a gradual increase in overseas investors over the last two years.
Bok-Jo Sohn, CEO of LG Futures, says: "Demand has increased from our overseas clients to execute electronically, hence our partnership with GL Trade to deploy an efficient model."
The new service will enable clients to execute trades processed by LG Futures through GL Net.
The exchange is the eighth derivatives market in Asia to be linked to GL Net. The vendor already offers trading services on the Korea Composite Stock Price Index (KOSPI) market.