Bonds
Korea’s ‘Back Office’ Is Ready for Bond-Index Inclusion Push
- Euroclear accounts to start on June 27, Clearstream on July 1
- New system to enhance foreigners’ access to Korean bond market
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The so-called back office of South Korea’s financial markets says it’s all set for the government’s push to get sovereign bonds into a key global benchmark this year.
The Korea Securities Depository is handling vital parts of the process as the country prepares to re-introduce a system for omnibus bond accounts with Euroclear on June 27 and Clearstream July 1, after failing in a first attempt in 2009 and 2010. That would ease the process for foreign investment access — and bring the country closer to getting its government securities added to the FTSE World Government Bond Index.