The pilot program will operate on business days from 9 a.m. to 9 a.m. the next day, with four local banks participating
BOK to launch 24-hour offshore won settlement network in September
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Summary
The network will operate on a 24-hour basis from 9 a.m. on each business day to 9 a.m. the following day, and will close on weekends and public holidays. Earlier this month, Asia's fourth-largest economy officially launched a 24-hour trading system for the Korean won as part of the government's long-term plan to internationalize the currency. BOK to launch pilot program for 24-hour offshore won settlement network in Sept.
Furthermore, The BOK said it is testing the system, named the BOK Won International Wire Network, with four local operators -- Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank. Revisions to related regulations will be completed by August before the pilot program begins in September, the BOK added.
Cross-referenced from 2 sources.
Factual coreconfirmed by several independent voices
The network will operate on a 24-hour basis from 9 a.m. on each business day to 9 a.m. the following day, and will close on weekends and public holidays.
reliability low1/2 sourcesEarlier this month, Asia's fourth-largest economy officially launched a 24-hour trading system for the Korean won as part of the government's long-term plan to internationalize the currency.
reliability low1/2 sourcesBOK to launch pilot program for 24-hour offshore won settlement network in Sept.
reliability low1/2 sourcesThe BOK said it is testing the system, named the BOK Won International Wire Network, with four local operators -- Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank.
reliability low1/2 sourcesRevisions to related regulations will be completed by August before the pilot program begins in September, the BOK added.
reliability low1/2 sources
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