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About SMBS

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title

  • Foreign Exchange Broking
  • Foreign Currency Call BrokingForeign Currency Call Broking

Foreign Exchange Broking

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.
SMBS provides foreign exchange broking services through a hybrid voice/electronic broking system, developed in-house by integrating the technological advantages of the voice-box and electronic broking systems. Possessing capabilities including the automatic execution of trades, filing and reporting of trade results and forwarding of up-to-the-second market information, the system enables our brokers to act promptly and accurately.

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.