KRX Launches Gold Spot Market
As a joint initiative announced last year among related institutions to facilitate transparent, electronic trading of spot gold on a regulated exchange, Korea Exchange(KRX) has pushed forward to launch its first gold spot market(“KRX Gold Market”) on March 24, 2014.
KRX will be responsible for the market operation, trading and clearing of the new market while Korea Securities Depository(KSD) will manage storage/ withdrawal of gold and Korea Minting, Securities Printing & ID Card Operating Corp(KOMSCO) will provide quality certification and inspection. At present, a total of eight securities firms and 49 gold market participants have registered as members of the new Gold Market. Retail investors can also participate in the market through registered securities companies.