[2009/08/17]

Koscom signed MOU with FX Kosys to build overseas futures & FX margin system
 
Koscom(CEO Kim, Kwang Hyun), a professional financial IT solution provider, announced on August 17 that it contracted MOU with FX Kosys(CEO Kim Jeong Soo), an FX risk management and derivatives consulting firm, to provide overseas futures and FX margin system in ASP form to its PowerBase clients.

FX Kosys is in cooperation with a renowned overseas futures brokerage firm named MF GLOBAL, regarding technologies on CFD and holds technology on overseas futures and FX margin system development.

Koscom's Financial Division Manager Jeon Dae Geun said, “MOU with FX Kosys is significant as it enforces PowerBase service through C&D(connect and development) strategy with other solution providers." He also added, "Koscom has plan to develope the CFD trading solution in the near future based on this overseas futures and FX margin trading service."

※ MF Global Ltd.

   - a world leader in execution and clearing services for exchange -traded and over-the-counter derivative products as well as for non-derivative foreign exchange, equities, and fixed-income products in the cash market.
   - offers customized solutions in the global cash and derivatives markets to a wide range of clients that includes financial institutions, corporations, hedge funds and other asset managers as well as professional traders and private/retail clients.

※ CFD(Contract For Difference)

   - a contract between two parties, typically described as "buyer" and "seller", stipulating that the seller will pay to the buyer the difference between the current value of an asset and its value at contract time. For example, when applied to equities, such a contract is an equity derivative that allows investors to speculate on share price movements, without the need for ownership of the underlying shares
   - a globally preferred type of OTC derivatives trading as transaction cost is moderate since it is not subject to stock transaction tax yet benefits from dividends or capital increase are equal although not having voting rights for the traded stock.