KRX and MSCI reach deal on data provisionKorea’s bourse operator sealed a provisional deal yesterday with global investment index provider MSCI on data provision, raising hopes that the country may graduate from its emerging market status in the global equities index.
The Korea Exchange (KRX) said its chairman, Kim Bong-soo, and MSCI Chairman Henry Fernandez reached an agreement on sharing the local exchange’s stock market information after 10 years of talks.
According to the local bourse operator, KRX is set to provide real-time market data to four key global index providers though the move, including the Financial Times Stock Exchange Group.
The KRX, however, said the two sides plan to discuss the issue of overseas listings of MSCI index-backed derivatives in a separate session. Neither KRX or MSCI disclosed the value of the agreement.
“Some of the customers MSCI has in Korea include asset management companies, pension managers and the central bank,” said Fernandez, who had visited Korea to issue a joint press conference with KRX officials. He was responding to a question about whether the agreement would signal an expansion of MSCI’s operations in Korea.
“We have also submitted for approval a Korean unit of MSCI, which can be established within a few months,” he added.
The agreement raised the prospect of MSCI upgrading Korea from its current emerging market status.
By Lee Jung-yoon, Yonhap [email@example.com]
More in Finance
Color of Chuseok
Kospi tumbles to 7-week low as economic prospects dim
BC Card opens big data lab in Busan
Bank of Korea expands support for small businesses
Kakao Bank to start preparing to go public