Shinhan Investment Corp Opens 'VentureNet', the First Investment Association Custody Service Among Securities Firms
Standardization of Custody Operations through Depository Linkage System
Shinhan Investment Corp. announced on the 2nd that it opened the VentureNet system linked with the Korea Securities Depository (KSD) on March 25, becoming the first in the securities industry to connect a three-party network among GP (General Partner) - KSD - trustee to automate and standardize the custody operations of investment associations.
This service was developed to enhance the efficiency of investment association management and increase investor convenience. Previously, custody operations for investment associations were manually processed by receiving management instructions from the principal via email. In this process, there was a possibility of missing management instructions or errors occurring during processing for both the principal and the trustee.
With the launch of the VentureNet linkage service, management instructions for investment associations can be processed electronically, reducing the possibility of missing or erroneous instructions and improving the accuracy of asset reconciliation tasks. Additionally, data and management instructions for existing investment associations under custody will be managed through the newly developed VentureNet, which is expected to enhance safety and convenience.
Meanwhile, Shinhan Investment Corp. closely collaborated with KSD to launch this service. During the nine-month development period, they started by building a dedicated network and analyzed over 60 message types. They also designed, developed, and tested more than 20 related business screens and applied them to actual operations.
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Choi Jeong-hoon, head of the trust department at Shinhan Investment Corp., stated, "Custody of investment associations by securities firms has the advantage of enabling a one-stop service for stock trading and rights exercise through a single account," adding, "There was a limitation where all securities firms provided similar services, but through the VentureNet service, Shinhan Investment Corp. can offer a differentiated custody service to the market."
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