Seoul Forex Market Amends Code of Conduct for 24/7 KRW-USD Trading, First Revision in Two Years

According to the Seoul Forex Market Operations Council, the Code of Conduct for Seoul's foreign exchange market was revised on July 6 for the first time in two years. The revision reflects the transition to round-the-clock trading of KRW-USD pairs. Trading hours under the revised Article 38 will now operate continuously from Monday 6 AM to Saturday 6 AM during New York Daylight Saving Time, and Monday 7 AM to Saturday 7 AM during standard time periods, replacing the previous banking hours framework of 9 AM to 2 AM next day. The revision also amended Article 43 on settlement dates, simplifying the rule to require that settlement occur on business days in both Korea and the counterparty currency country, replacing the previous framework tied to Seoul market business days.
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