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S.Korea to allow banks to directly trade USD futures -regulator
June 17, 2014 / 5:25 AM / 3 years ago

S.Korea to allow banks to directly trade USD futures -regulator

SEOUL, June 17 (Reuters) - South Korea will allow local banks to start directly trading exchange-listed U.S. dollar futures and 20-year treasury bond futures, to be listed later, its financial regulator said on Tuesday.

The 20-year treasury bond futures will be listed on the exchange within the next one to two years, the Financial Services Commission said in a statement.

Currently, only securities companies are allowed to trade exchange-listed derivatives, it said.

Banks will also be allowed to directly trade exchange-listed futures on the three-, five- and 10-year treasury bonds and more foreign currency futures within the next five years, it added.

South Korea also plans to launch night trading of U.S. dollar futures, between 6 p.m. and 5 a.m. (0900 GMT and 2000 GMT) and newly list more futures products based on stocks, the commission said.

Reporting by Christine Kim; Editing by Choonsik Yoo & Kim Coghill

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