Asian traders can now buy and sell US stocks during South Korean hours. Samsung Securities will offer the trading platform through its partnership with Blue Ocean Systems LLC.
The new trading service began on Monday, allowing real-time trading of 8,000 stocks between 10:00 and 18:00 Seoul time. The trading will be conducted on Samsung Securities, a subsidiary of Samsung group.
Brian Hyndman, the President of Blue Ocean said, “This is the first time in the history of U.S. markets that Asia-Pacific investors and Korean investors will have the opportunity to trade U.S. stocks ahead of U.S. investors."
Additionally, Blue Ocean is facilitating overnight stock trading in the US for Charles Schwab Corp's TD Ameritrade and Cowen. Moreover, Blue Ocean is connected to market makers such as Jane Street Capital and Virtu Financial.
South Korean investors will be able to trade with each other via Samsung Securities and against Blue Ocean's order flow according to Brian Hyndman.
Blue Ocean Trading Hours
Blue Ocean's mission to expand trading hours stems from its innovative approach to move away from the legacy 'New York only' trading time, so you can trade at your convenience.
In October 2021, Blue Ocean launched the Blue Ocean ATS. According to its website, 'the trading platform replicates the US day time trading experience: electronic access, dynamic and transparent price discovery (live data), the same regulatory reporting requirements, and the same clearing and settlement process'.
Furthermore, Blue ocean is offering its subscribers to trade through the Blue Ocean session from 20:00 - 04:00 ET.
Samsung Group 'Monimo' App Launch
In March 2022, Samsung Group is expected to launch a new financial services app in South Korea, 'Monimo.' The app is expected to bring the clients of Samsung Life Insurance, Samsung Card, Samsung Securities and Samsung Fire & Marine Insurance to the platform. The amount of subscribers of these financial services exceeds 30 million.
Samsung is the first non-bank company to launch an app that offers such integration. The app development began in April 2020, and it enables customers to access all personal data that is managed by financial institutions.
