Hana Bank Becomes a Member of LCH ForexClear
- It is the first South Korean bank to join the clearinghouse as a client.

Seoul-headquartered Hana Bank has become the first South Korean bank to have its foreign exchange ( Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term) forwards cleared through LCH ForexClear.
Announced on Wednesday, the Korean lender has become a clearing client of the global clearinghouse LCH for its FX derivatives. The press release shared with Finance Magnates detailed that Societe Generale is acting as the clearing broker for Hana Bank.
“We are proud to offer our customers a wide range of FX services. Having access to ForexClear allows us to effectively manage our risk while benefiting from a number of efficiencies associated with clearing,” said Youngsun Moon, Head of FX & Derivatives Trading Section at Hana Bank.
“We are pleased to be the first Korean bank to use the service, and believe this will help us to expand our position as the best Foreign Exchange Provider in Korea to the global market.”
Clearing FX Derivatives
ForexClear is LCH’s forex derivatives clearing service. The clearinghouse added eight FX forward currency pairs on the platform in October 2019 and the first CCP (central counterparty clearing) to clear forex forwards.
“As phase 5 of the uncleared margin rules rapidly approaches, we are seeing increased demand for clearing from firms looking to optimize their derivatives portfolios,” James Pearson, Head of LCH’s ForexClear, added. “South Korea has a vibrant FX and derivatives market, and we are delighted to welcome Hana Bank as the first from the country to clear at ForexClear.”
Eric Jungers, Head of Prime Asia at Societe Generale, commented: “The [Hana Bank] transaction is a testament to our Prime Service and OTC Clearing capability in Asia, a key region for the development of our activities. We look forward to continuing supporting our clients in the region in their pursuit of capital and operational efficiencies.”
Seoul-headquartered Hana Bank has become the first South Korean bank to have its foreign exchange ( Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term) forwards cleared through LCH ForexClear.
Announced on Wednesday, the Korean lender has become a clearing client of the global clearinghouse LCH for its FX derivatives. The press release shared with Finance Magnates detailed that Societe Generale is acting as the clearing broker for Hana Bank.
“We are proud to offer our customers a wide range of FX services. Having access to ForexClear allows us to effectively manage our risk while benefiting from a number of efficiencies associated with clearing,” said Youngsun Moon, Head of FX & Derivatives Trading Section at Hana Bank.
“We are pleased to be the first Korean bank to use the service, and believe this will help us to expand our position as the best Foreign Exchange Provider in Korea to the global market.”
Clearing FX Derivatives
ForexClear is LCH’s forex derivatives clearing service. The clearinghouse added eight FX forward currency pairs on the platform in October 2019 and the first CCP (central counterparty clearing) to clear forex forwards.
“As phase 5 of the uncleared margin rules rapidly approaches, we are seeing increased demand for clearing from firms looking to optimize their derivatives portfolios,” James Pearson, Head of LCH’s ForexClear, added. “South Korea has a vibrant FX and derivatives market, and we are delighted to welcome Hana Bank as the first from the country to clear at ForexClear.”
Eric Jungers, Head of Prime Asia at Societe Generale, commented: “The [Hana Bank] transaction is a testament to our Prime Service and OTC Clearing capability in Asia, a key region for the development of our activities. We look forward to continuing supporting our clients in the region in their pursuit of capital and operational efficiencies.”