Daishin Securities
Daishin Securities is joining hands with Alpaca, a US broker-dealer with self-clearing qualifications, to expand cross-border investment services for domestic and overseas investors.
Daishin Securities said Monday that it signed a cross-border business memorandum of understanding (MOU) on the first of this month with Alpaca, a US broker-dealer holding self-clearing qualifications.
Through the agreement, the two companies will pursue a domestic stock brokerage service using foreign omnibus accounts. They plan to build an environment in which global brokers affiliated with Alpaca and overseas investors can invest in the Korean stock market more conveniently.
The two companies will also cooperate on supporting US stock brokerage services for domestic institutional and individual investors. They plan to continuously expand the scope of their global business cooperation, including entry into new markets and the discovery of investment products.
Alpaca is a US company specializing in brokerage infrastructure APIs, offering trading services for various assets including stocks, exchange-traded funds (ETFs), options, bonds, and cryptocurrencies. Based on developer-friendly APIs, it provides services to hundreds of clients including global banks, fintech companies, and investment platforms, and supports more than 10 million brokerage accounts.
“It is meaningful to expand brokerage services connecting Korea and the US through cooperation with Daishin Securities,” Alpaca CEO Yoshi Yokokawa said. “By combining Daishin Securities’ expertise in the Korean market with Alpaca’s global brokerage infrastructure, we will enhance market accessibility for global investors.”
“Through this cooperation, we expect to provide domestic investors with a wider range of overseas investment opportunities and to further enhance overseas investors’ access to the Korean stock market,” said Jung Yeon-woo, head of Daishin Securities’ wholesale division. “We will continue to expand cooperation with global financial firms and contribute to strengthening the competitiveness of the domestic capital market.”