Newedge, the 50-50 venture betweenCalyon and Societe Generale, has been awarded a full futures license by the Korea Financial Services Commission - the first out of the 19 foreign companies currently seeking approval. 

 

The license has allowed Newedge Korea to offer all products listed on the Korea Exchange since 4 January, adding to the firm's current suite of cash equity, stock futures and options, and stock index and contracts. It also opens up investment into offshore futures and options to domestic clients. 

 

“The full license on Korea Exchange is an important step to further deepen our presence in one of the eight countries we cover with our Asian footprint," said Pierre Gray, the chief executive officer for the Asia Pacific. 

 

"This is aligned with our long term strategy of providing easier and direct access to foreign institutions investing in Asia, and offering domestic players a reliable access to the outside trading world via our global platform." 

 

Newedge has a presence in 25 locations in 17 countries. Its range of services include asset financing, prime brokerage, trading and order routing, cross margining, and client portfolio reporting.