[Korea goyounghun financial newspaper News] Daewoo Mirae enters the prime brokerage services (PBS) business in the United States, the first domestic securities investment business acids.
According to the financial investment industry, New York 20 days Mirae corporation Daewoo entered the US Financial Industry Regulatory Organization last January (FINRA) work under license Countdown to the start of PBS. It is scheduled to start as early as March work.
As part of the global investment banking (IB) extension last April, Daewoo, Mirae Asset has proved a capital increase in order to meet business requirements. Following the first capital increase of about 113 billion won was in progress the second capital increase of about 178 billion won in November. Business application was last September.
PBS is a business that brokers can the credit facility services, securities loans, financing, storage, management, fund investors comprehensive services company with capital capacity to provide a protection of wealth for professional investors such as hedge funds . In addition to allowing their capital more than 3 trillion won domestic brokerage Mirae Asset and the corresponding NH Investment & Securities, Samsung Securities, Korea Investment & Securities, KB Securities, Shinhan Investment Corp., etc. thereto.
Bar staff are reinforced last year so 15 people in a form that is added to the existing PBS Mirae Asset Equity Sales Trading Services Co., Daewoo Corporation of New York.
Daewoo Mirae Asset said, "and are currently conducting an additional workforce maintenance of IT systems."
IB Daewoo Mirae developed countries which had entered the business plan could not proceed because it was the majority shareholder with 43% stake held by the previous Development Bank. This is the law of self-promotion as a bank to limit the trading operations of the subsidiaries 'Volcker Rule (Volcker Rule)' since the 2007 financial crisis large US bank capital transaction issues.
But was it possible that the US PBS duties while Mirae Asset Securities KDB Daewoo Securities acquired in April last year.
The end of last year, the US hedge fund assets (AUM) are non gotta compares with 3523 estimated at approximately six trillion trillion won domestic hedge fund scale. So gotta views related to business profitability can be classified as new business brokerage. Also going to the US securities due to financial deregulation Dodd-bar has a view to the impact on the domestic financial sector into positive law, Frank joins the 619 modifications to the Volcker rule or disposal.
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