South Korea Launches 24-Hour Won-Dollar FX Trading; Banks Expand London Staff

According to Seoul Foreign Exchange Market, on July 6, Korean financial institutions began 24-hour uninterrupted won-dollar foreign exchange trading, with exceptions only on weekends and January 1. To cover the previously closed 2 a.m. to 9 a.m. Seoul time slot, major banks increased staffing in London and Seoul. Two commercial banks expanded their London trading teams from 2 to 4 staff each, while another bank added 1 trader. Banks also implemented shift-rotation systems to manage overnight operations in Seoul.
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