South Korea considers expanded won trading in bid for MSCI developed market inclusion

South Korea considers expanded won trading in bid for MSCI developed market inclusion

25/1/2022 3:38:00 AM

South Korea considers expanded won trading in bid for MSCI developed market inclusion

SEOUL : South Korea on Tuesday said it may extend trading hours of the won spot market and allow overseas dealers to participate in the market as it aims for inclusion in the MSCI developed markets index.The finance ministry said giving out won-trading licenses to offshore dealers is one of the plans bein

SEOUL : South Korea on Tuesday said it may extend trading hours of the won spot market and allow overseas dealers to participate in the market as it aims for inclusion in the MSCI developed markets index.The finance ministry said giving out won-trading licenses to offshore dealers is one of the plans being discussed to internationalise the market.

The ministry said it is considering extending trading hours but did provide details on any new trading times.Currently, onshore trading hours are 00:00 GMT to 06:30 GMT and only locally licensed financial institutions can participate.The consideration comes as Asia's fourth-largest economy seeks inclusion on an MSCI watchlist by June, a necessary step before it can be included in the MSCI developed market index.

Read more: CNA »

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