Australia's Macquarie Bank is entering the Korean equity
derivatives market via a tie-up with Woori Bank of Korea.
The two banks last week signed a memorandum of understanding
to form a business alliance in Korean equity derivatives. The
alliance enables Macquarie, which occupies a strong position in
the Australian warrants market, to gain a foothold in Korea.
Ottmar Weiss, head of Macquarie's equity markets group, said:
"Korea is probably the most exciting equity derivatives market
in the world right now, and the opportunities for growth and
deregulation over the next few years look particularly
promising. At the same time there are still significant
barriers to entry for foreign firms into the Korean equity
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