Launch of Korea Exchange Trading Information Repository... Focused Management of OTC Derivatives Trading

Son Byung-du, Exchange Chairman, "Will Lead to Vitality in OTC Derivatives Trading"

Korea Exchange held a ceremony to commemorate the launch of the Trade Repository (TR) on the 1st at the 51st floor of its Busan headquarters, attended by financial authorities and representatives from the financial investment industry. (From left) Lee Myung-soon, Standing Member of the Financial Services Commission's Securities and Futures Commission, Son Byung-doo, Chairman of Korea Exchange, Park Soo-young, Member of the National Assembly from the People Power Party, and Shin Chang-ho, Director of the Future Industry Bureau of Busan Metropolitan City, are cutting the cake to celebrate the launch of the TR.

[Asia Economy Reporter Gong Byung-sun] The Korea Exchange announced on the 1st that it has officially launched the Over-the-Counter Derivatives Trade Repository (TR). The Trade Repository is an institution that centrally collects, stores, and manages detailed information on over-the-counter derivatives transactions.

Through this Trade Repository, it is expected that the financial authorities' risk management and supervisory functions will be significantly strengthened, marking a new turning point for the sound growth of the domestic over-the-counter derivatives market.

The Trade Repository was established to enhance transparency in the over-the-counter derivatives market and mitigate risks arising in the financial system to prevent a recurrence of the global financial crisis. Earlier, at the 2009 G20 Summit, an agreement was reached to mandate the reporting of trade information to Trade Repositories. Accordingly, financial investment firms are required to report over-the-counter derivatives trade information to the Trade Repository.

The launch ceremony was held at the Busan headquarters on the same day. Attendees included Son Byung-du, Chairman of the Korea Exchange; Park Soo-young, member of the People Power Party; Lee Myung-soon, Standing Commissioner of the Financial Services Commission; and Shin Chang-ho, Director of the Future Industry Bureau of Busan City.

Chairman Son Byung-du said, “We have put a lot of effort into creating a Trade Repository that meets global standards,” and added, “We expect the development of the Trade Repository to lead to vitality in the derivatives market.”

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