Welcome to SMBS

SMBS holds the leading position in the F/X brokerage business having inherited KFTC's accumulated experience in foreign exchange broking built up over thirty years.

F/X Spot(USD/KRW)

F/X Spot(USD/KRW)
Client	Domestic Banks, Foreign Bank Branches, Merchant Banking Corporations
Trading Hours	09:00-15:30 of banking days
Currency	USD/KRW
Type	Spot A trade, which requires the settlement to be completed within two business days from the trade date Forward A trade, which requires the settlement to be completed on a specified date after certain period of time (normally two business days)
Minimum Trade Amount / Trade Unit	USD 1 million / multiples of million
Price Unit	KRW 0.1
Procedures	Foreign exchange bank enters the order through SMBS's terminal (A hotline voice order through a broker is also available) Send market prices and details of the trade concluded through the computer system
Delivery Day	Spot two business days after the trade date (Spot) Forward - If the term of the contract is ‘days’ : specified days from T+2(two business days after the trade date) - If the term is ‘month(s)’ : same day of the corresponding month as T+2 - If the term is ‘quarter-end’ : the last business day of the corresponding quarter
Settlement	- Korean won is settled thorough open accounts in Bank of Korea - U.S. Dollar is settled through accounts in the U.S

F/X Spot(CNH/KRW)

F/X Spot(CNH/KRW)
Client	Foreign exchange banks including market makers
Trading Hours	09:00 ~ 15:30 of banking days
Currency	CNH/KRW
Types	Spot
Minimum Trade Amount / Trade Unit	CNH 1 million / multiples of million
Price Unit	KRW 0.1
Delivery Day	Spot
Procedure / Settlement	Procedures and settlements are same as those of USD/KRW spot trading

Other Currencies

Other Currencies
Client	Foreign exchange banks including domestic banks and foreign bank branches, etc.
Trading Hours	8:00-19:00 of banking days
Currencies	- USD/JPY - EUR/USD - GBP/USD - USD/CAD - USD/CHF - AUD/USD - NZD/USD - EUR/JPY - USD/HKD - USD/SGD - USD/CNH - USD/THB - USD/NOK - USD/SEK - USD/DKK
Type	Spot
Minimum Trade Amount / Trade Unit	- USD/JPY : 100,000 USD - EUR/USD : 100,000 EUR - GBP/USD : 100,000 GBP - USD/CAD : 100,000 USD - USD/CHF : 100,000 USD - AUD/USD : 100,000 AUD - NZD/USD : 100,000 NZD - EUR/JPY : 100,000 EUR - USD/HKD : 100,000 USD - USD/SGD : 100,000 USD - USD/CNH : 100,000 USD - USD/THB : 100,000 USD - USD/NOK : 100,000 USD - USD/SEK : 100,000 USD - USD/DKK : 100,000 USD
Delivery Day	USD/JPY, EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD, EUR/JPY, USD/HKD, USD/SGD, USD/CNH, USD/THB, USD/NOK, USD/SEK, USD/DKK Two business days after trade date USD/CAD One business day after trade date
Procedure / Settlement	- Procedure : same as USD/KRW spot trading - Settlement : via correspondent accounts of respective currencies

F/X Swap

F/X Swap
Client	Foreign exchange banks including domestic banks and foreign bank branches, etc.
Trading Hours	No limitations (usually between 09:00-15:30)
Currency	- USD/KRW - CNH/KRW - 23 currencies including G10
Term	O/N, T/N, 1 week, 1 month, 2 months, 3 months, 6 months, 1 year, etc.
Trade Unit	USD/KRW USD 1 million CNH/KRW Less than 1 month : CNH 50 million 1 month ~ 3 months : CNH 30 million 6 months ~ 1 year : CNH 10 million 23 currencies including G10 Reference currency 0.1 million

MAR (Average Price F/X)

A contract between foreign exchange banks to buy and sell US dollars at the basic exchange rate, announced two business days after concluding the contract.

NDF(Non-Deliverable Forward)

A forward exchange contract in which the difference between the contract rate and fixing rate is settled in a specified currency at maturity.

NDF Swap

A type of forward swap contract to buy and sell which buys or sells Non-deliverable Forward contracts with two different maturities simultaneously.