NEW YORK (CNA) – Asian investors can now buy and sell United States (US) stocks during Korean business hours in real time through a partnership between Samsung Securities and US-based off-exchange trading venue operator Blue Ocean Technologies LLC, the companies said yesterday.
“This is the first time in the history of the US markets where Asia Pacific investors, and Korean investors, are going to have the ability to trade US stocks before US investors,” Blue Ocean President Brian Hyndman said. “The US day is going to start in Seoul.”
The new service began yesterday and enables the real-time trading of 8,000 US National Market System stocks and exchange-traded products between 10am and 6pm 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 US for various brokerages, including Cowen, Charles Schwab Corp’s TD Ameritrade and Morgan Stanley’s E*Trade, and is also connected to market makers Virtu Financial 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 US Blue Ocean order flow, he added.
