The Bank announced that its securities entity in South Korea has obtained an over-the-counter (OTC) derivatives brokerage license from the Financial Services Commission.

Up to now CASAL activities were focused on the origination of foreign currency bonds for Korean issuers and on the distribution of capital protected investment products to investors. The new license will strengthen CASAL access to the local market and expand its product offering to a wide range of derivatives and derivative-linked notes, covering all types of underlying (rates, FX, equity, credit etc.).

This broadened product suite will better serve the needs of its Korean clients by supporting their diverse investment and hedging strategies.

Sungmin Joh, Branch Manager for CASAL, said: “The license enables our institutional clients to have better access to CASAL’s innovative investment products and solutions, and supports our journey in providing them with the best investment instruments.”

Source: Crédit Agricole

		Gérald Massenet, Senior Country Officer for South Korea, Crédit Agricole CIB and Crédit Agrciole Group, added: “This new development is a clear testimony to our Group’s trust in the Korean financial market, its resilience and its growth potential.”
		Jean-François Deroche, Senior Regional Officer for Asia-Pacific, Crédit Agricole CIB, said: “The initiative serves as another key driver for our growth in Asia-Pacific, where South Korea has been one of our most active franchises, both on the Global Markets and Financing fronts