Hana Securities, Futu open Korean stock market access to foreign investors

Hana Securities said Monday that it has launched trading through omnibus accounts in partnership with Hong Kong-based global financial platform Futu Securities.

An omnibus account allows nonresident foreign investors to place and settle orders for Korean stocks through a local brokerage without having to open a separate account in Korea.

The system is expected to improve trading convenience for overseas investors and broaden the potential base for capital inflows into the Korean stock market.

The launch marks Hana Securities' first omnibus account service offered through a mobile investment platform.

After hosting an investment forum for 30 Futu Securities VIP clients in May, Hana Securities began a pilot program in June for customers who had applied in advance.

The service was expanded to all customers last Friday.

Futu Securities operates the mobile investment platforms Futubull and Moomoo.

It has operations in Hong Kong, Singapore, Malaysia, Japan, the United States, Australia and New Zealand.

As of last year, it had about 3.37 million active accounts, approximately 246 trillion won ...