http://www.sec.gov/news/press/2006/2006-102.htm 16 years and still no retail discussion on the securities side. Access is still to qualified investors and institutions with size assets. Unless someone has something more current from the SEC site.
Korea is an ID market where those outside of Korea need to apply via notary for an ID registration which is a manual process. There are also complexities with FX as the currency is not free. We are working on a solution and hope to have some updates in due course. In the meantime, consider trading Korean Single Stock Futures - very liquid, no stamp tax and w/o investor ID and other hassles.
Single stock futures are not a substitute for buying stocks. I hope we will be able to buy Korean stocks. Other brokers (e.g. Boom) accomplished this.
We could offer this tomorrow but unlike other firms, we are keen on getting a proper FX deal in place, great commissions and custody. We are working on it.
https://www.reuters.com/markets/asi...-easier-foreigners-2023-regulator-2023-01-24/ : South Korea plans to scrap a number of regulations in the local stock market within this year to make investment easier for foreign investors, its financial regulator said on Tuesday, in an effort to bring in more money into the market. The Financial Services Commission said in a statement there was a huge discrepancy between the regulations currently in place and the global standards and that "(it) will boldly improve regulations that have hindered global investors from investing in our market." The regulator said it would scrap a three-decade-old rule that requires foreigners to register with authorities prior to trading South Korean stocks. Instead, they will be allowed to open accounts with an internationally used identification, such as passport for individuals or legal entity identifier (LEI) for organisations. It will also lift a rule that requires omnibus account holders, such as asset management firms and brokerages, to report on transaction details of each final investor within two days of settlement, as well as open up most of off-board trading to foreigners. Meanwhile, it will become mandatory for South Korea's listed companies to provide corporate filings in English from 2024, starting with those of large sizes or high ratio of foreign shareholders, according to the statement. The regulator plans to complete the required legislation revision process in the first half of this year to implement such changes within 2023.
SSFs not a substitute for stocks for the majority of use cases, as we discussed before, not to mention that they are not available to U.S. residents. But thanks for confirming that IB will be offering Korean stocks. I'm looking forward to it, and will move my external portfolio of Korean stocks to IB. Which brings me to the next question - I hope transferring Korean stocks from Fidelity as well as from a Hong Kong based broker to IB will be possible.
will you allow trading on the CSE exchange? It’s infuriating that you guys only allow liquidations and don’t allow,buying on the Canadian securities exchange.