Samsung Securities has reportedly entered into a partnership with Interactive Brokers (IBKR) to provide overseas investors with access to trade South Korean stocks. Following the announcement, shares of Samsung Securities surged 28% at the close of trading on the Korean exchange.
According to industry sources cited by Yonhap News Agency, Samsung Securities and Interactive Brokers have begun pilot operations for a new service. This service utilizes Interactive Brokers' global trading platform, breaking down barriers present in traditional business processes.
So far this year, Samsung Securities' stock has accumulated a gain of 83%.
Note: South Korea has been advancing the framework for an omnibus account system for foreign investors, which allows them to trade South Korean stocks through local Korean brokerages or asset management firms without the need to open separate accounts with Korean securities companies.
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