Samsung Securities Goes Live Offering Clients Real-Time Access Via Blue Ocean ATS
Seoul Becomes First Asian Market Center to Commence US Equities Trading Day from Korea
Blue Ocean Technologies LLC (BOT), a global fintech leader in afterhours trading and the holding company of Blue Ocean ATS; and Samsung Securities, the brokerage subsidiary of Samsung Group, announced today the signing of a Memorandum of Understanding (MOU), entering a strategic partnership to trade US National Market System (NMS) stocks during local business hours in Korea. Effective February 6, 2022, (US ET) Samsung Securities began offering clients access to trade US equities via the Blue Ocean Alternative Trading System (ATS) market center. This platform offers Asia Pacific based investors the ability to trade during their local business hours, i.e., 10:00AM to 6:00PM. Blue Ocean ATS currently offers all subscribers the option to trade via its Trademark Blue Ocean Session from 8:00PM to 4:00AM US ET.
Latest Fintech Insights:Â FinancialForce Partners With Talent Works To Enhance Employer Brand And Grow Engineering Talent
For the first time in history, US equities commenced trading during local business hours on Monday morning in Korea, as a result of this partnership between Samsung Securities and Blue Ocean Technologies LLC. Blue Ocean ATS is currently connected to leading broker dealers in the US to serve institutional and retail investors who want to trade during non-traditional US market hours. Samsung Securities is Blue Ocean Technologies’ first international partner for transparent electronic trading access and market data during a time previously unavailable to Asia-Pacific based investors.
By starting Overnight Trading Service, Samsung Securities is the only firm that can trade U.S. stocks during the daytime in Korea. Three hours after the post-market and 30 minutes before the pre-market trading, Samsung Securities’ clients will be able to trade U.S. stocks for 20 hours and 30 minutes a day. Â Previously, Korean (and other global investors) had difficulties trading US equities during the night and dawn, however, now given the partnership with Blue Ocean the problem is completely solved.
According to Samsung Securities, 50% of all trades are traded from 23:30 to 1:30 (Korean time), it seems like investors have been focusing on the beginning of the trading day because it is very difficult to trade at dawn or when investors are typically sleeping. The Blue Ocean overnight trading service will expand the base of overseas trading.
Browse The Complete News About Fintech :Â Coinswitch To Launch Recurring Buy Plan For Crypto Assets
Chief Executive Officer of Blue Ocean Technologies, Ralph Layman, commented, “Today marks a tremendous milestone for global investors thanks to our strategic partnership with Samsung Securities, an incredibly well-respected international brand and multi-faceted innovator. We are delighted to have officially launched in Asia to facilitate real-time trading access for Korean investors. This partnership allows us to transport the US equities trading day, and our Blue Ocean trading model, to provide expanded local access to the greatest capital market in the world. Samsung Securities gained a global first mover advantage as the first APAC based firm to provide their customers access to this new trading opportunity. As of today, the US equity market opens in Seoul.”
Corporate Vice President of Samsung Securities, Jae-Hoon Sa, commented, “Despite the expansion of overseas trading, the physical time difference in each country has been a difficult obstacle for investors, and the opening of the service has allowed domestic investors to conveniently trade U.S stocks during the day when the Korean market opens, completely changing the game for the investing community. Investors can compare the same kind of industry stocks in the U.S and Korea, and they can invest right away by using the information from the news and corporate announcement after U.S market close.  In the past, Korean investors have started their day with checking the market conditions after U.S market close, now we look forward to seeing U.S investors start their day checking the market conditions after the Korean market closes,” he added.
Read More About Fintech News :Â Qredo Announces an $80mm Series A Raise Led By 10T Holdings, with Strategic Investment from Coinbase, Avalanche and Terra
[To share your insights with us, please write to sghosh@martechseries.com]
