Korea’s Koram Bank joins SuperDerivatives
Korea’s Koram Bank, a joint venture established by a consortium of local conglomerates, has joined SuperDerivatives, the internet-enabled currency options pricing system.
SuperDerivatives provides actual market prices, as opposed to theoretical value, for both vanilla and exotic options for all currencies, and is currently being used by Citibank, JP Morgan Chase, Merrill Lynch, SG, Commerzbank and ING.
Other users of the system include corporate treasuries, accountants, hedge funds and corporations.
Koram Bank was established in 1983 by a consortium of local conglomerates and Bank of America. In November 2000, the Carlyle-JP Morgan consortium bought a controlling 40.1% equity stake in the bank and assumed management control. The bank’s FX options and interest rate swaps desk was set up in September 2001.
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