Samsung, Blue Ocean launch U.S. stock trading during South Korean business hours

Samsung Securities Co

07/02/2022 05:00

By John McCrank
    NEW YORK, Feb 7 (Reuters) - Asian investors can now buy and
sell U.S. stocks during Korean business hours in real time
through a partnership between Samsung Securities  016360.KS  and
U.S.-based off-exchange trading venue operator Blue Ocean
Technologies LLC, the companies said on Monday.
    "This is the first time in the history of the U.S. markets
where Asia Pacific investors, and Korean investors, are going to
have the ability to trade U.S. stocks before U.S. investors,"
said Brian Hyndman, president of Blue Ocean. 
    "The U.S. day is going to start in Seoul." 
    The new service began on Monday and enables the real-time
trading of all 8,000 U.S. National Market System stocks and
exchange-traded products between 10 a.m. and 6 p.m. Seoul time,
through Samsung Securities, the brokerage subsidiary of Samsung
Group, which partnered with Blue Ocean. 
    Blue Ocean also facilitates overnight stock trading in the
United States for various brokerages, including Cowen  COWN.O ,
Charles Schwab Corp's  SCHW.N  TD Ameritrade and Morgan
Stanley's  MS.N  E*Trade, and is also connected to market makers
Virtu Financial  VIRT.O  and Jane Street Capital, Hyndman said.
    Asian investors buying stocks during Seoul business hours
through Samsung will be able to trade with each other, as well
as against the U.S. Blue Ocean order flow, he added.
    Blue Ocean is owned by multiple investors, with the biggest
being Urbana Corp  URB.TO , which is also the largest
shareholder in the Canadian Securities Exchange.     

 (Reporting by John McCrank in New York
Editing by Matthew Lewis)
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