15 December 2017
visit www.ebaday.com

Korea Securities Depository links to Euroclear FundSettle platform

17 February 2010  |  2393 views  |  0 Source: Euroclear Bank

Euroclear Bank and Korea Securities Depository (KSD) announce today a bilateral agreement whereby KSD will establish a link to Euroclear Bank's FundSettle platform, the automated, multi-currency fund-transaction processing solution. KSD will adopt FundSettle as part of its fund-processing infrastructure.

Euroclear Bank and KSD will also work together to develop KSD's multicurrency, cross-border investment fund distribution system, exchanging relevant information and organising cross-entity training programmes.

Mr. Soo-Hwa Lee, Chairman and Chief Executive Officer of Korea Securities Depository, said: "KSD is a transfer agent for all Koreandomiciled investment funds, connecting to local fund distributors and trustees. The link with FundSettle will enable Korean investors to use KSD as the centralised access point to invest in international funds. Transactions will be processed on a straight-through basis, involving no manual processing, which means at low risk. Processing and asset servicing costs will also be low due to the economies of scale that KSD, as the central agent, will be able to offer our clients. As a result of this initiative, we expect a substantial increase in STP rates from close to zero to more than 90% for cross-border investment fund processing."

Frédéric Hannequart, Chairman of Euroclear Bank, said: "Our growing relationship with Korea Securities Depository is reinforcing our commitment to the Korean market and to the Asia-Pacific region in general. In less than one year, Euroclear Bank became the first international central securities depository to process Korean government bond transactions and use Korean Treasury Bonds and Monetary Stabilisation Bonds as collateral for clients in securities finance transactions administered as a triparty agent. Now, we are the first to offer a joint solution with KSD to increase operational efficiencies in fund-transaction processing. We value the trust that KSD and the Korean market have placed with Euroclear Bank."

Euroclear Bank launched a link with Korea Securities Depository in October 2009 to offer settlement, custody and related services for Korean Treasury Bonds and Monetary Stabilisation Bonds. Euroclear and KSD also signed a Memorandum of Understanding in 2009 to explore how best to co-operate in supporting international clients active in the Korean capital markets and Korean entities interested in the wide range of markets covered by Euroclear Bank.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.aciworldwide.comvisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
9958 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9383 views comments | 17 tweets | 36 linkedin
Brits flock to digital-only banksBrits flock to digital-only banks
7414 views 11 comments | 11 tweets | 15 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
6794 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6231 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job