Korea Money Brokerage eyes global inter-dealer brokerage market: CEO

HONG KONG, Oct. 10 (Yonhap) -- South Korea's leading integrated money broker Korea Money Brokerage Corp. (KMB) is setting its sights on the global inter-dealer brokerage market by extending its regional scope, the head of the company said Monday.
KMB, which provides broking service to commercial banks and other financial institutions in the wholesale financial markets, celebrated on Friday the fourth anniversary of its Hong Kong branch.
Han Seung-hee, president and CEO of KMB, said the firm opened a branch in Beijing in June, as part of efforts to become a global inter-dealer brokerage firm.
An inter-dealer broker is a brokerage firm that operates in the over-the-counter or bond market and acts as an intermediary between major dealers and facilitates inter-dealer trades.
The KMB president said the company will enhance its broker's capacity and actively work with foreign firms.
"KMB has maintained a stable position in the wholesale financial market. With the expansion of broking service, we have grown in size and service quality," Han said, adding that support of the Hong Kong-based financial institutions enabled KMB to grow its business in the Chinese territory.
Established in 1997, KMB facilitates transactions in a diverse range of financial products such as currencies, bonds and derivative products related to shares, property and credit markets.
Since the launch of its Hong Kong branch in 2007, KMB has been competing with global players, looking to further expand its presence overseas.