[Feb 6th 2004 ] 

KOSCOM Develops USA On-Line Trading with XGA

KOSCOM signed strategic MOU on 5th with XGA to co-develop On-Line trading system for Korean investors have access to American equity, bond and derivatives. 

According to this MOU, KOSCOM will take On-Line's connection part to securities STP (Straight Through Processing) hub system and XGA will take API(Application Programming Interface) system to deliver orders of stock exchange of America like NYSE and NASDAQ.

Both parties would terminate trial operation tests of new system by June and provide service to general investors through domestic securities firms using KOSCOM's system if early.

KOSCOM CEO Mr. HAHN, JUNG KIE commented "world technology is evolving more and more to the next generation and most investors are changing their strategies from focusing on unitary local market to world wide. Therefore, we are advancing on developing new technology to trade American equity, derivatives and bond real time through XGA's American internal hardware configuration system." 

XGA CEO too emphasized that "professionalism of international trading of XGA and Korean market know-how of KOSCOM have combined and the MOU would create liable access to American market and enable Korean investors to trade internationally at right timing with best modest price."

Xinhua Global Access is a joint venture of Xinhua Finance, a premier China financial information provider with a strong foothold throughout Asia, and Global Access, a leading company delivering integrated institutional trading platforms.