South Korea's market for over-the-counter (OTC) derivatives grew 14.8 percent on-year in the first half, on the back of growing demand to hedge various risks, data showed on Oct. 17, 2018.
The combined turnover of OTC derivatives, such as stock options and futures, stood at 7,783 trillion won (US$6.8 trillion) in the January-June period, compared with 6,781 trillion won from a year earlier, according to the data by the Financial Supervisory Service (FSS).
Transactions of interest rate swaps rose by 541 trillion won in the first half due to uncertainties over interest rates at home and abroad, the FSS said.
Transactions of currency forwards also rose by 439 trillion won in the first half because of a rise in demand to hedge currency risks, the FSS said.
The FSS said it will improve its oversight rules on OTC derivatives in line with a global move that strengthens regulations against such financial products.(Yonhap)
Shin Jin-seon email@example.com
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