Woori Bank First To Trade Korea Treasury Bonds Via ICSD
Woori Bank announced on August 20 that it concluded a package deal with an overseas financial institution for the trading and settlement of Korea Treasury Bonds, along with linked foreign exchange (FX) transactions, through the International Central Securities Depository (ICSD). This is the first in
On August 20, Woori Bank successfully completed the first instance of a domestic bank trading Korea Treasury Bonds via the International Central Securities Depository (ICSD) with an overseas financial institution. This marks a significant milestone as it is the first time a domestic bank has directly supplied Korea Treasury Bonds to a foreign investor since offshore settlement through the ICSD was permitted in January.
The ICSD is an international securities settlement network utilized by global investors when trading overseas securities, with Euroclear and Clearstream being notable examples. Woori Bank's achievement is attributed to the government's guidelines established in January that enabled domestic banks and securities firms to participate in the ICSD.
By offering Korea Treasury Bonds alongside Korean Won currency exchange, FX, and derivative transactions, Woori Bank has created a comprehensive financial service package for government bond investment, meeting the demand for a more globalized Korea Treasury Bond market.
Brief written by urgent.news from BusinessKorea's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
