European banks stop clearing Korean won swaps at KRX

Fresh uncertainty over Esma's recognition of KRX's OTC clearing house

A stop-no-go sign

Doubts over European recognition of KRX's over-the-counter derivatives clearing house and the robustness of its risk management procedures are forcing European banks to reduce trading of Korean won interest rate swaps or move to non-standard products.

Korea launched its OTC clearing operation three months ago to meet a regulator-imposed deadline of June – one which was deemed too soon by many market participants. The decision by Korean regulators to mandate won interest rate swaps out to 10

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: