SKOFX Welcomes New Agricultural Derivatives Trading System
SKOFX's Agricultural Products Market (APD) welcomed a new derivatives trading platform
Online, February 6, 2014 (Newswire.com) - SKOFX's Agricultural Products Market (APD) welcomed a new derivatives trading platform. This new technology would allow for greater functionality and increased automation, especially as regards the delivery process for deliveries in completion of a futures contract.
"We are very pleased with the new platform and the possibilities for new product development that it brings," comments Chun-ho Pyoung, Senior General Manager: Agricultural Products at SKOFX.
"The automated physical delivery process facilitated by the new state of the art system allows for brokers to enter the deliveries on the front end that will increase efficiency and accuracy in the delivery process for both the SKOFX and the market participants.
We have been waited for this feature for quite a while now and we are very happy that we can offers our customers world class services." added Mr. Pyoung.
As with the equity derivatives trading system, local resources were used as the systems developers. "We have taken all the necessary testing steps to ensure the system runs smoothly from day one - both internally and with members and clients," says Mr. Pyoung "We'd like to thank our colleagues, APD members and Clearing members for giving up a number of Saturdays to ensure that this launch was possible on the scheduled date."
This technological development is in-line with a total technology review at the SKOFX and follows in the footsteps of the new equity derivatives system that was upgraded. "A world-class exchange must constantly review its technology," concludes Mr. Pyoung.
South Korea Options and Futures Exchange (SKOFX) is one of the world's leading futures and options trading venues, with markets based in the Asia, US and Europe offering derivatives on commodities, FX, equities, bonds, interest rates, indices and swaps.
Its commercial technology division, SKOFX Technologies provides best-in-class transaction, data, and infrastructure management services and solutions.