Setback for Korea stock futures, while exchange merges systems


Korea Exchange (KRX) had been due to launch single-stock futures in December, but did not receive approval from the country's financial services watchdog, say Asia Risk sources.

One bank executive based in Seoul says the Financial Supervisory Service (FSS) vetoed the plan because it said it needed more time to consider the relevant laws on market conduct. He says the FSS felt KRX had not done enough research into the potential side-effects of the relevant rules - such as those on short-term p

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