KRX swaps approval held up by HanMag loss – Isda's Noyes

Korean won swap liquidity could suffer if KRX service is not approved

Seoul, Korea

European approval for Korea's over-the-counter derivatives clearing house is being jeopardised by concerns about the risk management set-up of its sister futures exchange, according to an official at one industry association. If those issues cannot be tackled quickly enough, all but two European bank members could be forced to withdraw, dealing a blow to the liquidity of the local swap market.

Both venues are run by Korea Exchange (KRX), which has applied for its OTC clearing service to be

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