Busan is good

Futures exchange in Busan catches global eye

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After the transfer of the Stock Index Futures (KOSPI 200) to the Korea Futures Exchange in Busan January 2 this year, an array of delegations from the world's trading houses have been visiting the exchange.

The vice president of the Shanghai Futures Exchange (SHFE) plans to stop by the exchange Monday to meet with Korean officials to discuss future trading opportunities for foreign investors, and review the exchange's trading system.

Two working-level officials from the Chicago Mercantile Exchange (CME), an international marketplace that brings together buyers and sellers of futures and other financial derivatives, are also going to visit the exchange to grope for ways for sharing information on the clearing system.

Four executives including the chairman of the Mongolian Financial Development Association (MFDA) are expected to visit the exchange Tuesday. The Mongol delegation will be briefed on the exchange's international cooperation projects, and discuss ways to enhance working-level collaboration between the two organizations.

In November last year, six high-ranking officials from the Tokyo Stock Exchange (TSE) shared their views on the computer system with their counterparts in the Busan exchange. A 10-member high-powered delegation from three Chinese futures exchanges visited the exchange in December last year.

"As the stature of the futures exchange has been raised with the transfer of the KOSPI200, it is better positioned now to expand its international network. Taking this opportunity, the exchange will make extra efforts to make inroads into overseas markets," said a senior executive of the exchange.

The source of news : Busanilbo, Tuesday Feb. 10, 2004, 15:53