South Korean brokerage firms’ net profit increased sharply last year as a result of higher transaction fees, according to The Korea Herald, quoting Yonhap.
Based on data from the Financial Supervisory Service, Korea’s financial regulator, 58 brokerage firms reported combined net profits of 9.09 trillion won ($7.5 billion) last year, an increase of 54.2% over the previous year.
Transaction fees grew by 23.2% on-year to 16.8 trillion won last year, according to the data. Likewise, earnings from investment banking fees increased by 31.9% on-year to 5.19 trillion won.
According to the data, return on equity, one of the key measures of profitability improved to 12.5% from 9.1% in 2014, while sales and administrative expenses rose 19% to 12.09 trillion won.
Despite their stellar performance last year, their net profit in the fourth quarter dropped 48% to 1.3 trillion won, raising concerns that their earnings could worsen.
Their total assets were 620 trillion won at the end of December, an increase of 9.9 trillion won from a year earlier.
The data showed that their liabilities remained almost unchanged at 542.4 trillion won, while their equity increased by 9.8 trillion won on-year to 77.6 trillion won.
2021 FX Metrics in South Korea
As reported early this year, the 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) volume traded by the South Korean banks touched a record high in 2021, with the average daily figure at $58.31 billion.
The daily FX turnover
FX Turnover
FX turnover is the sum value of all transactions performed in the foreign exchange market during any specific time although, generally, they are computed monthly. When used in a technical analysis application, FX turnover measures the efficiency and magnitude of asset allocations while a growing turnover is a defining trait of an active bullish market. In forex trading, the volume histogram is one of the most utilized indicators to measure FX turnover. This construct helps plot trading volumes to designated periods although it is best optimized when used in conjunction with either bullish or bearish markets.Trade volumes tend to outlast price moments. For example, if the price appreciates with a rising FX turnover that is then followed by a turnover drop-off then generally the price will continue to appreciate until the price has lost its momentum and begins to depreciate. Why Does Tracking FX Turnover matter?Many technical traders analyze FX turnover fluctuations on their charting solutions as a means of generating strong upcoming trend predictions. Another important factor for FX turnover analysis includes open interest, which is the total value of all open positions at the end of a trading period. Gauging variations of this index are the main emphasis, not observing absolute volume, because it enables traders to better understand the market sentiment of that asset to determine if their positions coincide with a long-term perspective.Tick volume within a specific period are used for forex turnover estimations since these figures are inaccessible for official statistic authorities. Turnovers are calculated in nominal terms of contracts. An example of this would be if a bank sells off $500,000 against the Yen and then uses that Yen to purchase U.S. dollars, the reported turnover would be $1 million due to the nominal terms of each contract.
FX turnover is the sum value of all transactions performed in the foreign exchange market during any specific time although, generally, they are computed monthly. When used in a technical analysis application, FX turnover measures the efficiency and magnitude of asset allocations while a growing turnover is a defining trait of an active bullish market. In forex trading, the volume histogram is one of the most utilized indicators to measure FX turnover. This construct helps plot trading volumes to designated periods although it is best optimized when used in conjunction with either bullish or bearish markets.Trade volumes tend to outlast price moments. For example, if the price appreciates with a rising FX turnover that is then followed by a turnover drop-off then generally the price will continue to appreciate until the price has lost its momentum and begins to depreciate. Why Does Tracking FX Turnover matter?Many technical traders analyze FX turnover fluctuations on their charting solutions as a means of generating strong upcoming trend predictions. Another important factor for FX turnover analysis includes open interest, which is the total value of all open positions at the end of a trading period. Gauging variations of this index are the main emphasis, not observing absolute volume, because it enables traders to better understand the market sentiment of that asset to determine if their positions coincide with a long-term perspective.Tick volume within a specific period are used for forex turnover estimations since these figures are inaccessible for official statistic authorities. Turnovers are calculated in nominal terms of contracts. An example of this would be if a bank sells off $500,000 against the Yen and then uses that Yen to purchase U.S. dollars, the reported turnover would be $1 million due to the nominal terms of each contract.
Read this Term for the year jumped by 10.3% when compared with the previous year’s $52.84 billion. The South Korean central bank started to record the forex market statistics in 2008, and the latest figure was the highest since then.
Spot forex average daily turnover last year in the country reached $22.71 billion, which is 11.6% higher than the previous year. FX derivatives demand also jumped by 9.4% to $35.59 billion.
South Korean brokerage firms’ net profit increased sharply last year as a result of higher transaction fees, according to The Korea Herald, quoting Yonhap.
Based on data from the Financial Supervisory Service, Korea’s financial regulator, 58 brokerage firms reported combined net profits of 9.09 trillion won ($7.5 billion) last year, an increase of 54.2% over the previous year.
Transaction fees grew by 23.2% on-year to 16.8 trillion won last year, according to the data. Likewise, earnings from investment banking fees increased by 31.9% on-year to 5.19 trillion won.
According to the data, return on equity, one of the key measures of profitability improved to 12.5% from 9.1% in 2014, while sales and administrative expenses rose 19% to 12.09 trillion won.
Despite their stellar performance last year, their net profit in the fourth quarter dropped 48% to 1.3 trillion won, raising concerns that their earnings could worsen.
Their total assets were 620 trillion won at the end of December, an increase of 9.9 trillion won from a year earlier.
The data showed that their liabilities remained almost unchanged at 542.4 trillion won, while their equity increased by 9.8 trillion won on-year to 77.6 trillion won.
2021 FX Metrics in South Korea
As reported early this year, the 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) volume traded by the South Korean banks touched a record high in 2021, with the average daily figure at $58.31 billion.
The daily FX turnover
FX Turnover
FX turnover is the sum value of all transactions performed in the foreign exchange market during any specific time although, generally, they are computed monthly. When used in a technical analysis application, FX turnover measures the efficiency and magnitude of asset allocations while a growing turnover is a defining trait of an active bullish market. In forex trading, the volume histogram is one of the most utilized indicators to measure FX turnover. This construct helps plot trading volumes to designated periods although it is best optimized when used in conjunction with either bullish or bearish markets.Trade volumes tend to outlast price moments. For example, if the price appreciates with a rising FX turnover that is then followed by a turnover drop-off then generally the price will continue to appreciate until the price has lost its momentum and begins to depreciate. Why Does Tracking FX Turnover matter?Many technical traders analyze FX turnover fluctuations on their charting solutions as a means of generating strong upcoming trend predictions. Another important factor for FX turnover analysis includes open interest, which is the total value of all open positions at the end of a trading period. Gauging variations of this index are the main emphasis, not observing absolute volume, because it enables traders to better understand the market sentiment of that asset to determine if their positions coincide with a long-term perspective.Tick volume within a specific period are used for forex turnover estimations since these figures are inaccessible for official statistic authorities. Turnovers are calculated in nominal terms of contracts. An example of this would be if a bank sells off $500,000 against the Yen and then uses that Yen to purchase U.S. dollars, the reported turnover would be $1 million due to the nominal terms of each contract.
FX turnover is the sum value of all transactions performed in the foreign exchange market during any specific time although, generally, they are computed monthly. When used in a technical analysis application, FX turnover measures the efficiency and magnitude of asset allocations while a growing turnover is a defining trait of an active bullish market. In forex trading, the volume histogram is one of the most utilized indicators to measure FX turnover. This construct helps plot trading volumes to designated periods although it is best optimized when used in conjunction with either bullish or bearish markets.Trade volumes tend to outlast price moments. For example, if the price appreciates with a rising FX turnover that is then followed by a turnover drop-off then generally the price will continue to appreciate until the price has lost its momentum and begins to depreciate. Why Does Tracking FX Turnover matter?Many technical traders analyze FX turnover fluctuations on their charting solutions as a means of generating strong upcoming trend predictions. Another important factor for FX turnover analysis includes open interest, which is the total value of all open positions at the end of a trading period. Gauging variations of this index are the main emphasis, not observing absolute volume, because it enables traders to better understand the market sentiment of that asset to determine if their positions coincide with a long-term perspective.Tick volume within a specific period are used for forex turnover estimations since these figures are inaccessible for official statistic authorities. Turnovers are calculated in nominal terms of contracts. An example of this would be if a bank sells off $500,000 against the Yen and then uses that Yen to purchase U.S. dollars, the reported turnover would be $1 million due to the nominal terms of each contract.
Read this Term for the year jumped by 10.3% when compared with the previous year’s $52.84 billion. The South Korean central bank started to record the forex market statistics in 2008, and the latest figure was the highest since then.
Spot forex average daily turnover last year in the country reached $22.71 billion, which is 11.6% higher than the previous year. FX derivatives demand also jumped by 9.4% to $35.59 billion.
Source: https://www.financemagnates.com/institutional-forex/south-korean-brokerages-net-profits-surged-in-2021-data-shows/