BT says Korean brokerage firm Goodmorning Shinhan (GMSH) is using its network services to offer FIX-based trading services to its buy-side clients and trading partners in Asia, the US and Europe. Goodmorning Shinhan signed an agreement with BT South Korea to use the BT Radianz shared market infrastructure. International buy-side institutions that want to trade in the Korean equity and derivatives markets must use a local broker who is a member of KRX. Now BT Radianz clients who are trading the KOSPI (Korea Composite StockPrice Index) and in the Korean securities and derivatives markets will be able to connect directly to GMSH.
“The Korean derivatives market is the largest in the worldby volume, so offering access to one of the leading brokers in Koreais a significant benefit to the financial community,” says Richard Man, Vice President, Asia-Pacific Sales, BTRadianz. “The BT Radianz shared market infrastructure is known for simplicity and speed of deployment, thereby greatly reducing the problems associated with international connectivity. We are enabling GMSH to execute a clear strategy for advanced trading in Korea, whilst enhancing overall access to the region.”
Michael Kim, Head of Sales, DMA Equities & Derivatives, Goodmorning Shinhan, says the firm chose BT “because the solution offers our clients flexibility, high performance and, more importantly, scalability to accommodate the growth of direct market access in Korea. This move gives us a broader on-demand access and a more creative approach to leading global financial sites and gives our FIX/API gateway trading service unparalleled visibility into the international trading network. We see our relationship with BT as a significant stepping stone in the expansion of our services globally.”
Goodmorning Shinhan Securities (GMSH) is a wholly owned subsidiary of NYSE ADR listed Shinhan Financial Group. Shinhan Bank, Shinhan-BNPParibas ITMC, and Shinhan-Macquarie Financial Advisory are a few of the major subsidiaries in the SFG family.