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Korea FX market goes 24 hours, putting brokerage risk management to test

South Korea’s onshore won-dollar foreign exchange market shifts to 24-hour trading from July 6, allowing exchange rates to adjust overnight to global events and U.S. data. Authorities and the Bank of Korea expect better access for foreign investors as won funding and FX become available in New York and London hours. Brokerages face demands for overnight currency conversion, tighter foreign-currency position management and stronger dealing, systems and staffing.