Hana Securities announced Monday that it has launched full omnibus account trading services with Futu Securities, a Hong Kong-based global financial platform.
The omnibus account regime allows non-resident foreign investors to place and settle orders in Korean shares through their local brokerages without opening a separate account in South Korea. The arrangement makes trading more convenient for overseas investors while broadening the flow of foreign capital into the domestic stock market.
Futu Securities is a Hong Kong-based global brokerage that operates the mobile investment platforms Futubull and Moomoo.
The company operates in Hong Kong, Singapore, Malaysia, Japan, the United States, Australia and New Zealand. As of last year, it held about 3.37 million active accounts, customer assets of about 246 trillion won ($168 billion) and annual trading volume of around 3,000 trillion won.
The partnership marks the first time Hana Securities has offered its omnibus account service through a mobile-first investment platform. The brokerage began a pilot run this month for pre-registered customers before expanding the service to all customers on Friday.
Hana Securities received innovative financial service designation in April last year and, in October of that year, became the first in the industry to launch an omnibus account service — in partnership with Hong Kong's Emperor Securities. It extended the service to Japan's Capital Partners Securities in April this year, and the tie-up with Futu Securities further expands its network of Asian investors.
Hana Securities plans to roll out the omnibus account service with Hong Kong's Citic Securities and US-based Wedbush Securities as well.
The brokerage has also been working to deepen its ties with overseas investors. In May, it co-hosted a "Korea Value-Up Investment Forum" with Futu Securities and Hong Kong's CSOP Asset Management, inviting VIP clients for one-on-one meetings with representatives from leading Korean-listed companies including Hyosung Heavy Industries, Hanmi Semiconductor, LS Electric and Hana Financial Group.
"With this service launch, millions of Futu Securities customers will be able to access the Korean capital market far more conveniently," said Heo Tae-hyeong, head of Hana Securities' overseas business division. "We will continue to introduce innovative services and lead the advancement of the capital market."
jiyun@heraldcorp.com
