Newedge wins full futures licence in Korea

Newedge has started selling a complete range of futures and options in Korea after becoming the first foreign broker to win a full futures licence there.

The new licence allows it to sell all of the products on the Korea Options and Futures Exchange to local investors, including interest-rate, currency and commodity products. It also lets it sell offshore futures and options to Korean investors for the first time.

The 18 other foreign brokers still waiting for their full licences from the Korea Financial Services Commission are still restricted to selling locally listed equities products only. That means they will have to sit on the sidelines while Newedge builds market share in some of the country's most popular trades, such as futures on Korean treasury bonds and the value of the won against the dollar.