KSD Signs Contract with Euroclear for Establishment and Operation of Integrated Government Bond Account

The Korea Securities Depository (KSD) announced on the 29th that it signed a contract on the 28th with Euroclear regarding the establishment and operation of the government bond omnibus account system.

(From left) Lee Sun-ho, President of Korea Securities Depository; Yoo Jung-hyun, Ambassador and Permanent Representative to NATO at the Embassy of the Republic of Korea to Belgium and the European Union; Peter Sneyers, CEO of Euroclear. Photo by Korea Securities Depository

The signing ceremony held at Euroclear headquarters (Belgium) was attended by Lee Soon-ho, President of KSD, Peter Snayers, CEO of Euroclear, and Yu Jeong-hyun, Ambassador of the Republic of Korea to the European Union in Belgium.

The government bond omnibus account is an account opened by Euroclear, an International Central Securities Depository (ICSD), at KSD, allowing foreign investors to collectively hold and manage government bonds without opening individual accounts in Korea.

President Lee Soon-ho stated, "The government bond omnibus account will serve as a solid foundation to accelerate the internationalization of the Korean capital market by increasing liquidity and utilization, such as offshore over-the-counter trading of Korean government bonds. We will also devote all efforts to developing the linked system to open it as soon as possible."

With this contract signing as a milestone, KSD and Euroclear plan to accelerate the construction of the government bond omnibus account linkage system. After developing the ICSD linkage system and conducting participant tests, the system operation is scheduled to begin in the first half of next year. KSD will make every effort to ensure the system is launched as early as possible.

This content was produced with the assistance of AI translation services.