Toss Securities plans to offer direct trading for US shares soon, following the recent broker-dealer approval obtained by its subsidiary, the Internet brokerage firm announced Monday.
TSA Financial, a US subsidiary of Toss Securities, was registered in June as a member of the Financial Industry Regulatory Authority, a self-regulatory organization for the US brokerage industry, according to the firm.
With this license, Toss Securities can now provide direct brokerage services through TSA Financial, allowing clients to trade US stocks without intermediaries. The company plans to launch the direct brokerage service as early as the third quarter.
This paves the way for Toss Securities to provide a more reliable investment environment by enhancing the stability of offshore stock transactions and strengthening its real-time monitoring system, the brokerage firm explained, adding it has begun preparing for the service launch by recruiting local talent and building system infrastructure.
Toss Securities has been eager to explore further business opportunities in the US, driven by the growing volume of US stock trades by Korean investors. The company has consistently maintained around a 20 percent market share in the country's portion of stock transactions on the US market.
As part of the move, the brokerage established TSA Financial in August, along with another US subsidiary, Toss Securities Americas.
“Obtaining the US broker-dealer license is a testament to our global service capabilities and internal control systems meeting international standards,” Toss Securities CEO Kim Kyu-bin said.
“We will continue to enhance our expertise in overseas brokerage to become a trusted global investment platform.”
TSA Financial CEO Rich Hagen emphasized the company's commitment “to building the local infrastructure and professional capabilities needed to support Toss Securities’ global expansion.”
“With a deep understanding of the US market and regulatory landscape, we aim to serve as a bridgehead for Toss Securities’ global business, while continuously identifying new growth drivers,” he added.
silverstar@heraldcorp.com
