Mirae Asset Securities Surpasses 30 Billion Yen in Yen RP Balance

Mirae Asset Securities announced on the 26th that the sales balance of Japanese yen repurchase agreement (RP) products has surpassed 30 billion yen (approximately 279 billion KRW, based on an exchange rate of 930 KRW per yen).

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The yen RP, launched in June, offers a pre-tax annual yield of 0.15% for the flexible type and 0.20% to 0.25% for the fixed type (for individuals and corporations, as of the 24th). This product has gained popularity among corporations requiring yen funds management tools for export and import payments and investors anticipating a rebound in the yen’s value, surpassing a balance of 30 billion yen in just over three months since its launch.

Mirae Asset Securities completed its lineup of four major foreign currency RP products by adding the euro RP last month to its existing US dollar, Japanese yen, and Chinese yuan RPs. Additionally, the 'Automatic Purchase RP' service, which automatically trades RPs for foreign currency deposits, now includes the euro as a tradable currency, enabling customers investing in various currencies across global stock markets to enhance the efficiency of their deposit fund management.

A representative from Mirae Asset Securities stated, "This achievement is the result of proactively launching products and diligently securing yen-denominated collateral bonds to promptly meet market demand for fixed-rate yen products and satisfy customer needs. Even if competitors launch similar products in the future, we will continuously secure investment-grade yen bonds to maintain product competitiveness."

Detailed information regarding the foreign currency RP products’ contract yields by maturity, minimum trading amounts, trading hours, early redemption rates, and online trading methods can be found on the Mirae Asset Securities website, Home Trading System (HTS), Mobile Trading System (MTS), and customer service center.