New Korean fund-distribution system to launch in 2011
Having chosen Euroclear's fund-processing solution, the Korea Securities Depository will work with the Belgian firm to launch its new fund-distribution platform.
Korea Securities Depository (KSD) will go live with Euroclear Bank's automated funds-processing platform, FundSettle, by the third quarter of next year. The depository also expects to launch a multi-currency cross-border fund-distribution system at around the same time.
This year, KSD will set up a reference group to design the new business process for the distribution system, says Tony Park, senior manager at KSD in Seoul. The group -- comprising Korean distributors, custodians, tru…
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