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Finance

KB Securities posts 600.6 billion won Q2 operating profit, up 175.5 percent

KB Securities said its second-quarter operating profit and net profit more than doubled from a year earlier, delivering its best-ever first-half performance. The brokerage reported consolidated operating profit of 600.6 billion won, up 175.5 percent, and net profit of 450.8 billion won, up 180.6 percent. First-half operating profit totalled 1.05 trillion won and net profit 801.0 billion won, the highest on a half-year basis.

Finance

KB Kookmin Bank signs deal with KOSDAQ Association to support innovative firms

KB Kookmin Bank will expand financial support and capital-market services for KOSDAQ-listed companies through a partnership with the KOSDAQ Association. The bank said it signed a memorandum of understanding in Seoul on July 15 aimed at revitalising the KOSDAQ market and strengthening listed firms’ global competitiveness. The two sides plan to offer preferential-rate corporate loans, investment finance, equity and debt capital-market solutions, and provide on-site wealth management and ESG management consulting.

Crypto

Gemini secures U.S. CFTC derivatives clearing organization license

U.S. cryptocurrency exchange Gemini has secured a derivatives clearing organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC). The approval allows Gemini to expand beyond crypto spot trading into non-spot trading such as prediction markets, futures and options. Under the license, Gemini unit Olympus will act as the clearinghouse for Titan platform trades, handling settlement, risk and collateral management and trade guarantees.