KSD and Euroclear take further step in making the market Euroclearable

Brussels 28 August 2023 - Euroclear Bank, the Brussels based international central securities depository (ICSD) and the Korea Securities Depository (KSD) have signed a CSD agreement to open an omnibus account, at a signing ceremony earlier today in Brussels.  

Building on the significant progress made since Euroclear Bank and the KSD signed a Memorandum of Understanding late last year, the domestic market has made key advancements in making Korean Treasury bonds (KTBs) Euroclearable. The Euroclearable link will allow international investors efficient, post trade access to KTBs. 

"I am convinced that the omnibus account will serve as a cornerstone for advancing the globalisation of the Korean capital market by making KTBs more liquid and actively utilised," said Mr. Soonho Lee, Chairman & Chief Executive Officer, Korea Securities Depository.  “We will continue the great work and make the best efforts to ensure thorough system development which will commence in due course."

Peter Sneyers, Chief Executive Officer, Euroclear Bank commented: "We are delighted to be taking this next step with the Korean market. We have been working together with the KSD, the Ministry of Economy and Finance and the domestic regulators with a shared vision to provide a solution for international investors to access efficient and safe settlement of local Korean government bonds. Our link will also allow KTBs to be eligible on our triparty platform. As a Financial Market Infrastructure, we will continue to support and work with the market with a commitment to create an ecosystem for growth as we move closer to the launch of the Euroclearable link."

Front (Left to Right)

Mr. Soonho Lee, Chairman & CEO, Korea Securities Depository

Mr. Peter Sneyers, Chief Executive Officer, Euroclear Bank

Front (Left to Right)

• Mr. Soonho Lee, Chairman & CEO, Korea Securities Depository
• Mr. Peter Sneyers, Chief Executive Officer, Euroclear Bank

Back (Left to Right)

• Mr. Sungjun Kim, Finance Attaché, Korean embassy 
• Mr. Seongjin Sim , Assistant Manager, Global Cooperation Department, KSD
• Mr. John Oh, Manager, Global Cooperation Department, KSD
• Mr. Joonghoon Park, Director, Global Cooperation Department, KSD 
• Mr. Ryu Jeong-hyun, Mr, the Ambassador Extraordinary and Plenipotentiary to the Kingdom of Belgium and the European Union and the Permanent Mission to the North Atlantic Treaty Organization
• Isabelle Delorme, Head of Strategy and Product Expansion for Issuers, Fund Managers and Sustainable Finance, Euroclear 
• Mohamed M’Rabti, Chief Product Officer APAC and Head of ETF, Euroclear 
• Annette Brandt, Director, Network Projects & PMO Banking Strategy, Euroclear 
• Antoine Paridaens, APAC Product Manager, Euroclear 
• Francoise Baguet, Manager - Network Management, Euroclear 

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International and MFEX by Euroclear.