More NewsKorea Securities Depository Adopts Euroclear Bank’s FundSettle Platform

Korea Securities Depository Adopts Euroclear Bank's FundSettle Platform

Euroclear Bank and Korea Securities Depository (KSD) has signed 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 multi-currency, cross-border investment fund distribution system, exchanging relevant information and organising cross-entity training programmes.

Soo-Hwa Lee, chairman and chief executive officer (CEO) of KSD, said: “KSD is a transfer agent for all Korean-domiciled 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.”

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 (MoU) 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.

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi