South Korea to remodel currency futures market
SEOUL - South Korea's financial regulator is pushing to remodel the country's currency futures market in response to demand for an alternative to "riskier over-the-counter derivatives".
The country's corporate hedgers have been some of the hardest hit by the crisis-induced collapse of local currencies in the past year. In the third quarter alone, South Korean exporters are estimated to have lost close to $1 billion from knock-in/knock-out (Kiko) currency option products (FX Week, December 22
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