Clearstream introduces new link to South Korean market
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Clearstream introduces new link to South Korean market 15 May 2024 South Korea Reporter: Sophie Downes
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Clearstream has introduced a new direct link to the South Korean market for the purpose of settling and safekeeping Korean government bonds.
Effective from 1 July, the link will include Korean treasury bonds and monetary stabilisation bonds.
Clearstream Banking will have its own foreign nominee omnibus account opened with the local Korean central securities depository, Korean Securities Depository (KSD). The link will also be operated by KSD as Clearstream Banking’s agent.
Clients will be able to access collateral management services, including triparty repo and pledge.
However, securities borrowing and lending will not be available, since the activities are not allowed in Clearstream Banking by the Korean authorities.
Further details, including cash and settlement deadlines, settlement instruction formats, and disclosure requirements, will be made available in due course.
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