Korea Securities Depository (KSD) will set up offshore fund-transaction processing services for Korean distributors and trustees in June, Finextra reports. The services will be offered by linking KSD’s domestic FundNet platform with Euroclear Bank’s FundSettle platform. By tying up with Euroclear’s automated, multi-currency fund-transaction processing platform, FundNet can serve as the single platform for all Korean fund market participants to process their domestic and offshore fund transactions. Korean distributors and trustees will be able to use KSD as the centralized access point to invest in domestic and offshore funds through FundSettle.
Click here for the story from Finextra.