Lehman gets FX derivatives licence in S Korea
The US investment bank can now offer FX and interest rate derivatives to onshore clients greatly increasing the size of their market, according to a senior official.
Lehman was granted the licence by the local regulatory body, the Financial Supervisory Commission (FSC) on December 24 and begins trading this week. Under the licence, Lehman will be able to deal derivatives onshore based on currency and interest rates, and becomes the first foreign house to be allowed to deal in equity derivatives
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