JPMorgan enters Korean OTC derivatives market

OTC licence approval gives JPMorgan an opportunity to grow its onshore client base.
JPMorgan is set to start trading over-the-counter OTC derivatives in South Korea after winning approval from local regulators earlier this week.

The initial focus will be on the equity market, but the licence, which is issued by the Financial Supervisory Commission, approves JPMorgan to market and trade the full range of OTC derivatives. The motivation was initially driven by the equity business but the platform is also designed for other asset classes, such as credit and rates, FX and commodities, says William Lee, Asia ex-Japan head of equity derivatives.

The onshore OTC market is still relatively young in Korea but is expected to grow significantly as the regulator approves more licences and the...
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