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“The development in FX brokerage market are aimed so that there is a self-regulating guidance restricting the not needed competition, to educate the professionals, and be active in the exchange of information’s,” the committee said.
Eight foreign exchange firms will be launching a committee in Seoul forex market brokerage as told by Ministry of Finance and Economy in South Korea.
According to the committee "If Seoul has an increasing foreign exchange brokerage participants there is a need to set up a committee with the brokerage companies”
In the statement members are Seoul Money Brokerage Services, Korea Money Brokerage Corp., ICAP, Tullett Prebon, Nittan Capital Korea, GFI Korea, Tradition Korea and BGC Capital Markets.
Joining the committee are the Finance Ministry and Bank of Korea as special members they will be gathering opinions coming from brokerage firms thus having a guiding principle by the end of 2007.
19:10
Posted on Jun-28-2007
