JP Morgan gets go-ahead for derivatives in Korea
On July 25, the South Korean Financial Services Commission awarded the bank a licence to market and trade onshore over-the-counter won-denominated derivatives in equities, interest rates, foreign exchange, credit and commodities. After a year of waiting for the approval, the bank joins 20 other institutions, including Citi, Credit Suisse, Merrill Lynch, and Lehman Brothers, to receive an OTC derivatives licence.
“Under our banking licence [received more than 40 years ago] we were able to trade
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