Korean securities firms seek new technology to offer complex products
Hyundai Securities’ signs landmark deal with Sophis in bid to offer more complex products
Hyundai Securities has signed up to technology vendor Sophis’ Value portfolio and risk management system for fixed income, interest rates, currency and commodities (Ficc). The deal may signal a wider move by Korean securities firms to deploy technology provided by international technology firms as they seek to emulate foreign banks in offering more complicated structures.
Changes under Korea’s Financial Investment Services and Capital Markets Act, enacted in February 2009, have resulted in
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