[2010/04/29]

Koscom held a seminar celebrating 100th customer milestone for STP-HUB

Koscom, a leading IT solution provider, announced on April 29 that it held a seminar celebrating 100th customer milestone for STP-HUB at the convention center in Yeouido.

STP-HUB service is to automatize the trading process between asset management firms and securities companies by using an international standard protocol like FIX, which was made through manual work such as telephone and fax. Since its launch in 2003, the service has contributed to the reduction of management risk and trading cost as well as the improvement of user convenience.

Especially, STP-HUB service has enabled domestic financial institutions to invest overseas and vice versa by connecting global network like Trade Web, BT-Radianz, etc. On top of that, domestic financial institutions can use FX margin trading and overseas futures trading service as it is connected to famous FCM abroad such as OANDA, MF-Global.

At this event attending about 150 executives from domestic asset management firms and securities firms, Yu, Phil Hwa, a professor of Sungkyunkwan Univ. and Shin, Hyun Jun, director of asset management department, FSC(Financial Supervisory Commission) gave a lecture on 'CEO's management philosophy in the classic' and  'Policy for asset management market' respectively. Koscom suggested a mater plan for STP-HUB service, an order and transfer hub system representing Korea.

Kim, Kwang Hyun, CEO of Koscom, requested, "We will foster and develop STP-HUB, firmly established as 'Korea One Gateway', to become a global financial industry infrastructure through rapid and efficient services based on flexible and safe financial infrastructure. And I ask for your unchanged love and interest to Koscom, hoping to be a global financial IT solution leader.

- STP(Straight Through Processing)
A securities trading that institutional investment is made by market participants such as securities firms, investment institutions and consignment banks. By transmitting and receiving data on the whole process from order placement to clearing/settlement in the standardized message format, securities trading process can be handled effectively without manual work by automatically connecting system data in different environment.

- Koscom STP-HUB
A hub system, allowing that asset management firms at home and abroad place an order simultaneously to several securities firms. It supports automation of the entire process from order placement from securities firms to clearing/settlement.

- FIX(Financial Information Exchange)
A message standard that is developed to electronically exchange all kinds of information related to securities trading. It allows that brokers, organizations and exchanges are electronically exchanging trading information.

- FCM(Futures Commission Merchant)
Overseas brokerage firm providing FX margin related exchange rate quotation at home (The End)