Meritz Securities 'Super365' Deposited Assets Surpass 500 Billion Won
Providing Daily Compound Interest RP Income on Won and Dollar Deposits
Meritz Securities announced on the 23rd that the deposit assets of the 'Super365 Account,' which offers daily compound repurchase agreement (RP) yields on both Korean won and dollar deposits, have surpassed 500 billion KRW.
Super365, Meritz Securities' flagship product, is a comprehensive investment account that allows trading of various financial investment products, including domestic and international stocks, bonds, and funds, at some of the lowest fees in the domestic market (0.009% for domestic stocks, 0.07% for overseas stocks). Its greatest advantage is the RP auto-investment service, which provides daily compound RP yields of 3.15% per annum on Korean won deposits and 4.45% per annum on dollar deposits. After market close, RPs are automatically purchased with the deposits and automatically sold after midnight.
In the past, some high-net-worth clients transferred standby funds to CMA (Comprehensive Asset Management Accounts) before investing to earn interest. Super365 took inspiration from this and incorporated the RP auto-buy and auto-sell function as a basic service of the account.
In a mobile survey conducted by the survey platform Open Survey at the end of April, 60% of 230 investors responded that they intended to use Super365, citing "interest provided on deposits" and "low stock trading fees" as reasons. Super365 also sets the lowest industry-level fees for on-market bonds. While most securities firms charge fees up to 0.3% depending on the remaining maturity of the bond, Super365 customers can trade at a flat fee of only 0.015%, regardless of the remaining maturity.
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The fee structure has been adjusted so that customers investing in long-term bonds with longer maturities can benefit from lower fees. Super365 offers all these services as a lifetime basic feature without event conditions or separate applications, and anyone can easily sign up remotely.
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