Korea Exchange acquires market operator license in Singapore

Korea Exchange (KRX) on Thursday said it has received a "Recognized Market Operator" (RMO) license from the Monetary Authority of Singapore (MAS), a year after it submitted an application in February last year.

MAS authorizes exchanges by dividing them into categories such as "Approved Exchange" (AE) and "RMO" depending on each exchange's impact on the city-state's market.

The RMO license will allow KRX to use the name "exchange" and do business with local investors in Singapore.

Since the establishment of the Singapore branch office in Jun. 2017, KRX has prepared for acquiring RMOs to strengthen its local marketing activities.   

"The securing of the approval will allow us to compete in attracting Singpore-based investors on an equal footing with major exchanges such as the CME of the US, Eurex of the EU, and JPX of Japan. We plan to directly enlist foreign investments in KRX stock markets and products," said a Korea Exchange official.

Write to Se-Young Choi at seyeong2022@hankyung.com