On Mar. 31, SK GVT issued measures re extended-hours forex trading.
SK GVT announced measures for activating trading in the forex market's extended operating hours, including the introduction of a league table (forex volume ranking).
Plus, leading registered foreign institutions (RFIs), Currency exchange guidelines.
Follows SK GVT Mar. 2025 held foreign exchange soundness council, see #246333.
League Table
From Jul. 2025, top 7 forex market participating institutions in terms of trading volume will be disclosed on an annual basis, by spot forex, forex swap, and both markets.
The trading amount will not be disclosed; where all of the top 7 institutions are banks, the top institution in the non-banking sector will be announced separately.
The top three institutions based on total trading volume and an institution with the largest year-on-year increase in trading volume will be awarded at the end of the year.
Plus, additional incentives will be sought in consultation with related organizations.
Leading Registered Foreign Institutions
From 2025, three RFIs with excellent spot forex, forex swap trading performance will be selected as leading RFIs every Jul. and given institutional/administrative incentives.
Leading RFIs will be selected based on two-way spot forex trading, spot forex quotation trading, forex swap trading performances, as well as legal compliance.
The selected leading RFIs will be granted the right to attend the Seoul Foreign Exchange Market Council and its operating committee, have a regular consultation channel with authorities, and be exempted from disciplinary actions once a year.
Currency Exchange Guidelines
Ministry of Strategy and Finance and SK CB formulated and distributed guide below.
Namely, Guidelines for currency exchange including RFIs' current transactions, which contain RFIs' business procedures and methods in addition to checklists for each stage.
Future Plans
Ministry of Strategy and Finance and SK CB will closely monitor the progress of the forex market structure improvements, while identifying tasks for system improvement.
Namely, to promote RFI's market participation, trading in extended operating hours.
