Koscom Builds Web-Based Foreign Exchange Trading Platform

KOSCOM announced that it completed the construction of Seoul Forex Brokerage's 'Web-based Dollar-Won Spot FX Trading Platform (WTS)' on the 29th of last month.

The newly developed FX WTS is the first domestic web-based platform related to foreign exchange trading, and this is the first time that WTS is used for Dollar-Won spot FX trading.

Until now, Dollar-Won trading in the domestic interbank foreign exchange market was only possible through dedicated terminals and APIs within a closed network, but accessibility has been enhanced to include WTS through new networks and security systems. Additionally, by complementing the existing trading environment, financial institutions using the system can utilize WTS, dedicated terminals, and APIs all together.

Since WTS requires lower initial investment costs compared to dedicated lines, it is expected that the investment costs for financial companies using Dollar-Won trading will decrease with this system upgrade.

Convenience is also expected to increase. Features such as one-click ordering within WTS and workspace functions that allow screen layout by task have been supported to enhance usability for users accustomed to overseas usage environments.

Furthermore, the entire system has been configured with redundancy to strengthen security in accordance with the stringent security standards of overseas institutions, and access routes have been diversified so that customers can connect under various communication environments.

Seoul Forex Brokerage plans to complete IT infrastructure preparations for the foreign exchange market structural improvements scheduled to be fully implemented in July through additional system expansion work.

Hong Dong-pyo, Head of Data Business Division at KOSCOM, said, "With the major restructuring of the foreign exchange market scheduled for July, KOSCOM, as a financial IT specialized institution, is honored to contribute to this market operation improvement. KOSCOM will continue to promote the development of the domestic financial market through ongoing cooperation with Seoul Forex Brokerage."