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[Alpha Biz=(Chicago) Reporter Kim Jisun] While financial authorities have launched a major operation on the CFD system in the wake of the plunge in stock prices from Societe Generale Securities, securities firms have suspended not only new subscriptions but also new transactions of existing subscribers one after another.
Kyobo Securities and Meritz Securities announced on the 1st that they stopped opening CFD accounts. As a result, professional investors who already have CFD accounts at some securities firms will not be able to make new transactions through the accounts.
Securities firms such as Kiwoom Securities, NH Investment & Securities, Hana Securities, Shinhan Investment & Securities, and Eugene Investment & Securities have announced that they will suspend new sales through those accounts to customers with existing CFD accounts. KB Securities' CFD account customers will not be able to trade from the 5th. Yuanta Securities is also expected to announce the suspension of new subscriptions and existing subscriber transactions soon.
These securities firms have imposed trading restrictions at the recommendation of financial authorities. Financial authorities came up with measures to supplement CFD regulations, such as marking actual types of investors when selling stocks under CFD last month, and recommended securities firms to restrict new CFD transactions by individual professional investors until it is implemented.
The regulatory supplement plan will be implemented in August this year by revising the detailed rules for the implementation of the exchange's business regulations and financial investment business regulations.
Securities firms such as Korea Investment & Securities Co., Samsung Securities Co., DB Financial Investment Corp. and SK Securities Co. have already stopped opening and trading CFD accounts.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
