Samsung, Blue Ocean launch U.S. inventory trading during South Korean business hours

A forex dealer will work at a dealing room of a financial institution in Seoul, South Korea, August 25, 2015. REUTERS/Kim Hong-Ji

NEW YORK, Feb 7 (Reuters) – Asian buyers can now acquire and sell U.S. stocks during Korean enterprise several hours in real time through a partnership between Samsung Securities (016360.KS) and U.S.-primarily based off-trade buying and selling venue operator Blue Ocean Systems LLC, the companies claimed on Monday.

“This is the 1st time in the history of the U.S. marketplaces where by Asia Pacific buyers, and Korean traders, are going to have the capacity to trade U.S. stocks just before U.S. buyers,” claimed Brian Hyndman, president of Blue Ocean.

“The U.S. day is going to start in Seoul.”

The new support commenced on Monday and permits the authentic-time trading of all 8,000 U.S. National Current market Procedure stocks and exchange-traded products and solutions amongst 10 a.m. and 6 p.m. Seoul time, via Samsung Securities, the brokerage subsidiary of Samsung Team, which partnered with Blue Ocean.

Blue Ocean also facilitates overnight inventory buying and selling in the United States for numerous brokerages, including Cowen (COWN.O), Charles Schwab Corp’s TD Ameritrade and Morgan Stanley’s (MS.N) E*Trade, and is also related to sector makers Virtu Economic (VIRT.O) and Jane Road Funds, Hyndman reported.

Asian investors acquiring shares in the course of Seoul organization hrs as a result of Samsung will be ready to trade with each and every other, as well as against the U.S. Blue Ocean buy move, he additional.

Blue Ocean is owned by a number of investors, with the most significant remaining Urbana Corp (URB.TO), which is also the largest shareholder in the Canadian Securities Exchange.

Reporting by John McCrank in New York
Editing by Matthew Lewis

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