Daishin Securities signs MOU with US firm Alpaca to expand cross-border investment services

Daishin Securities signed a cross-border business MOU with Alpaca, a US broker-dealer with self-clearing capabilities, on Wednesday, the company announced Monday.

Under the agreement, the two companies will pursue domestic stock brokerage services using foreign omnibus accounts, aiming to make it easier for global brokers affiliated with Alpaca and overseas investors to access the Korean stock market.

A foreign omnibus account is an account held in the name of an overseas financial investment firm that allows foreign investors to buy, sell and settle Korean stocks in bulk without opening individual accounts. Financial regulators introduced the regime in 2017 to improve convenience for foreign investors.

Alpaca is a US company specializing in brokerage infrastructure application programming interfaces (APIs). It offers trading services across a range of assets — including shares, exchange-traded funds, options, bonds and virtual assets — and supports more than 10 million brokerage accounts. Built on developer-friendly APIs, the company has secured hundreds of clients, including global banks, fintech firms and investment platforms.

Daishin Securities said it plans to use the partnership as a springboard to support US stock brokerage services for domestic institutional and retail investors, while pursuing broader cross-border financial service cooperation. The company said it will continue to expand global business collaboration, including entry into new markets and the development of new investment products.

"We are delighted to expand brokerage services connecting Korea and the United States through our partnership with Daishin Securities," said Yoshi Yokokawa, chief executive of Alpaca. "By combining Daishin Securities' expertise in the Korean market with Alpaca's global brokerage infrastructure, we will work to improve market access for investors around the world."

Jung Yeon-woo, head of Daishin Securities' wholesale division, said the partnership is expected to open up diverse overseas investment opportunities for domestic investors while significantly improving Korean market access for foreign investors. "We will continue to expand cooperation with global financial firms and contribute to strengthening the competitiveness of Korea's capital markets," he added.