Preparing for 24-Hour Opening of Korea's FX Market... Winway Launches 'Foreign Exchange Trading Hub' Service

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As the domestic foreign exchange market prepares for significant changes, including the move toward 24-hour trading, Winway, a company specializing in foreign exchange trading platforms, has introduced an innovative solution for financial institutions and corporations.

On April 21, Winway announced the launch of its 'FX FIX API Hub' service, designed to help domestic and international banks, financial institutions with foreign exchange needs, fintech companies, and ordinary businesses efficiently conduct foreign exchange transactions without complex procedures. Winway is the only company in Korea that provides both interbank and bank-to-customer foreign exchange transactions through a single hub connection.

Previously, banks or companies that wanted to conduct foreign exchange transactions with multiple counterparties had to individually install dedicated lines for each party, which was cumbersome. However, by using Winway's service, users only need to connect to the Winway network once to buy and sell foreign exchange in real time with numerous counterparties.

To enable this, Winway partnered with Equinix, a global data center operator and network provider, to build state-of-the-art network infrastructure in Tokyo (TY3), Japan, and Seoul (SL1), Korea.

Now, domestic banks can access real-time trading exchange rate information from leading global banks such as JP Morgan, Citibank, and Deutsche Bank, which are connected to Tokyo TY3, without having to set up separate international dedicated lines. They can compare rates from multiple sources and instantly execute foreign exchange transactions with those offering the most favorable rates.

Financial institutions, fintech firms, and general businesses can also conveniently provide transaction rates and foreign exchange trading services via the SL1 hub.

Companies and institutions with foreign exchange needs can connect to the Winway hub to receive rates from multiple banks and trade at the most advantageous rates. Furthermore, through FIX API transactions, foreign exchange trading details can be reflected in their internal IT systems in real time, enabling work automation, internal controls, and real-time exchange rate risk monitoring.

A Winway representative stated, "With the government's foreign exchange market structure reforms leading to longer trading hours and more diverse participants, fast and accurate data connectivity has become more important than ever. Winway's hub service not only drastically reduces the cost of building complex infrastructure but also enables real-time foreign exchange risk management, playing a key bridging role in advancing Korea's foreign exchange market."

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