Awards for Asia
World-famed for offering one of the most
traded derivatives contracts, the Korea Exchange is also
rapidly establishing itself as a leading vendor of trading and
clearing technology for exchanges.
Over the last twenty years the firm has
been selling technology to regional exchanges across trading,
clearing and settlement, market surveillance and front office
and depository systems.
It has implemented projects in Vietnam,
Malaysia, Uzbekistan, Philippines, Laos, Cambodia and Thailand
among other emerging markets.
Hot off the back of its FOW Award for the
implementation at the Thailand Stock Exchange last year, its
work with the Baku Stock Exchange in Azerbaijan won the praise
of the judges for the Awards for Asia 2016.
KRX successfully developed and implemented
its system for the Azerbaijan capital market in a project
financed by World Bank.
KRX has not only fulfilled the technical
requirements laid out by World Bank-employed consultants but
managed to develop the total package, including a trading
system for its Azerbaijani partner, in less than a year,
including the full review of local regulations and
The trading system supports cash market
and offers full derivatives trading functionality.
The trading system is based on
KRX’s Exture+ trading platform, which can handle
throughput of more than 20,000 transactions per second and
supports stock, bonds, repo, futures and options and other
asset classes on a single platform.
According to Jay Jinmo Gu, KRX Project
Manager of the Azerbaijan project, the exchange can service the
needs of a wide range of exchange clients.
"We offer a tailored product to exchanges.
All variety of asset classes can be supported on the platform
and we can fully customise the service to the needs of the
individual exchange," he said.
"Exture+ is a highly flexible platform
that can be configured to a specific market and is built around
the FIX protocol so it can connect to other systems."
KRX offers its technology across three
models: market establishment, market modernisation and IT
Its market establishment service is
implemented in countries such as Laos or Cambodia that are
building capital markets with no legacy.
The Azerbaijan project was a market
modernisation, building on existing technology and providing
extensive consultation on the requirements of the Baku Stock
KRX is dominant in the South East Asian
region and is now targeting growth in the Middle East and
The exchange has a number of deals and
ongoing implementations in the pipeline, and, if its success in
Asia is anything to go by, its expansion into new markets will