Koscom
Encyclopedia
Koscom is a Korean
financial IT solutions company launched by the Ministry of Finance (MOSF) and the Korea Exchange
(KRX) in 1977. It has five corporate divisions with providing IT infrastructure to the Korean financial securities and futures market. Koscom also offers online stock trading systems that enable users to access to financial database and place trades by Home Trading System or using a customized terminal for professional traders in securities as well as other electronic financial services. Major Korean financial firms have subscription to the Koscom's online trading services including market news, price quotes and financial market data.
. In 1980s, a synthesized electronic financial system for operating the entire capital market was required due to a rapid growth of the Korean stock market. In order to provide customers with a stable environment for making safe, easy and speedy stock trading with every financial services company, Koscom launched electronic financial services by building automated trading systems for securities firms, insurance companies, government agencies and banks. The Korea Exchange
is the largest shareholder of Koscom and a quarter of its shares split into several securities firms. Since Korea
has opened its financial market to foreign investors in 1992, Koscom has been developing an integrated online financial system that would be utilized by the financial community to accurately monitor and analyze the entire capital flow of the Korean financial market. In 1988, Koscom initially introduced automated trading systems for financial markets. Koscom developed a data search tool and began to install terminals including the latest service called CHECKExpert for professional investors or brokers. The system also provides the latest market activity news and information on securities firms or information businesses as well as real-time financial market data movement to its users. The company launched STOCK-NET(1991), CRS2000(1999), SignKorea(2000) and ISAC(2003) services.
▪ KRX Futures and Options Market Trading System
▪ KRX KOSDAQ
Market Trading System
▪ KRX Stock Market Trading System (Stocks, bonds, etc.)
▪ The unlisted securities which are not listed on the Korea Exchange
or KOSDAQ
are traded on the Korea Securities Dealers Association (KSDA) FreeBoard. Koscom implements and operates electronic systems for the FreeBoard and OTC Bonds Trading.
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
financial IT solutions company launched by the Ministry of Finance (MOSF) and the Korea Exchange
Korea Exchange
Korea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
(KRX) in 1977. It has five corporate divisions with providing IT infrastructure to the Korean financial securities and futures market. Koscom also offers online stock trading systems that enable users to access to financial database and place trades by Home Trading System or using a customized terminal for professional traders in securities as well as other electronic financial services. Major Korean financial firms have subscription to the Koscom's online trading services including market news, price quotes and financial market data.
History
Koscom was established in 1977 by the Ministry of Finance and the Korea ExchangeKorea Exchange
Korea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
. In 1980s, a synthesized electronic financial system for operating the entire capital market was required due to a rapid growth of the Korean stock market. In order to provide customers with a stable environment for making safe, easy and speedy stock trading with every financial services company, Koscom launched electronic financial services by building automated trading systems for securities firms, insurance companies, government agencies and banks. The Korea Exchange
Korea Exchange
Korea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
is the largest shareholder of Koscom and a quarter of its shares split into several securities firms. Since Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
has opened its financial market to foreign investors in 1992, Koscom has been developing an integrated online financial system that would be utilized by the financial community to accurately monitor and analyze the entire capital flow of the Korean financial market. In 1988, Koscom initially introduced automated trading systems for financial markets. Koscom developed a data search tool and began to install terminals including the latest service called CHECKExpert for professional investors or brokers. The system also provides the latest market activity news and information on securities firms or information businesses as well as real-time financial market data movement to its users. The company launched STOCK-NET(1991), CRS2000(1999), SignKorea(2000) and ISAC(2003) services.
Milestones
- Founded in September 1977
- Computer implementation and operation systems for Korea Exchange initiated in April 1978
- Stock Quotation Bulletin Board system initiated in July 1979
- Automated stock trading system launched in March 1988
- Foreign Investors’ Investment Limit Management System launched in July 1994
- CHECKExpert (A terminal for professional investors) Service launched in December 1995
- ISO 9001 , Tick IT acquisition in March 1998
- Launched Home Trading System (On-line Trading Service) for securities companies in 1998
- Certificate AuthorityCertificate authorityIn cryptography, a certificate authority, or certification authority, is an entity that issues digital certificates. The digital certificate certifies the ownership of a public key by the named subject of the certificate...
entitled in February 2000 - SignKorea (Digital CertificatePublic key certificateIn cryptography, a public key certificate is an electronic document which uses a digital signature to bind a public key with an identity — information such as the name of a person or an organization, their address, and so forth...
) Service launched in April 2000 - CMS (Consolidated Security Management) Center opened in January 2001
- CMMICapability Maturity Model IntegrationCapability Maturity Model Integration is a process improvement approach whose goal is to help organizations improve their performance. CMMI can be used to guide process improvement across a project, a division, or an entire organization...
Level 4 achieved (CMMICapability Maturity Model IntegrationCapability Maturity Model Integration is a process improvement approach whose goal is to help organizations improve their performance. CMMI can be used to guide process improvement across a project, a division, or an entire organization...
: Capability Maturity Model Integration) in November 2005 - PowerBase (Total solution for securities firms) launched in February 2007
- Asia PKIPublic key infrastructurePublic Key Infrastructure is a set of hardware, software, people, policies, and procedures needed to create, manage, distribute, use, store, and revoke digital certificates. In cryptography, a PKI is an arrangement that binds public keys with respective user identities by means of a certificate...
Best Practice Award received in March 2007 - The 30th Anniversary of Establishment celebrated in September 2007
- Build Bond Trading System for Malaysia ExchangeKuala Lumpur Stock ExchangeThe Kuala Lumpur Stock Exchange dates back to 1930 when the Singapore Stockbrokers' Association was set up as a formal organisation dealing in securities in Malaya...
in February 2008 - Operated pork futures trading system in Jul. 2008
Services and products
- All trading processes involved with the listed companies on the Korea Exchange are automatically executed by online ranging from placing orders to trade matching, reporting and settlement. Korea ExchangeKorea ExchangeKorea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
(KRX) Trading System is categorized into three sections as below;
▪ KRX Futures and Options Market Trading System
▪ KRX KOSDAQ
KOSDAQ
KOSDAQ is a trading board of Korea Exchange in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent stock market from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ.KOSDAQ is an electronic stock market,...
Market Trading System
▪ KRX Stock Market Trading System (Stocks, bonds, etc.)
▪ The unlisted securities which are not listed on the Korea Exchange
Korea Exchange
Korea Exchange is the sole securities exchange operator in South Korea. It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.- History :...
or KOSDAQ
KOSDAQ
KOSDAQ is a trading board of Korea Exchange in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent stock market from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ.KOSDAQ is an electronic stock market,...
are traded on the Korea Securities Dealers Association (KSDA) FreeBoard. Koscom implements and operates electronic systems for the FreeBoard and OTC Bonds Trading.
- BCP+ (Business Continuity Planning Plus) (Disaster Recovery and Backup Service) helps in protecting the system and personal data from natural disasters, contingency situations and other incidents. The service includes remote backup system development and operation, backup data vault storage, backup consulting and others.
- Foreign Investment Management System (FIMS) for Financial Supervisory Service deals with ongoing trading issues of foreign investors. The system monitors every trading process of foreign investors and tracks down any violations occurred during a transaction.
- FSISAC (Financial Service Information Sharing & Analysis Center) is an information protection service devising countermeasures against cyber terrorism and hacking threats. Koscom offers IT security information services, IT security control services, system vulnerabilities analysis and evaluation service, IT security solutions, hacking test and data security training classes.
- Koscom Data is a real-time market data service in which a substantial amount of market data produced from the stock and derivatives market is collected and processed on large capacity computers and subsequently distributed to information users. It provides stock prices and also calculates indices such as KOSPI and KOSPI200.
- Koscom started to provide investment analysis terminals since 1980 and now approximately 3,000 professional investors have subscriptions to CHECK Expert service. Investors can have an access to real-time local and international financial information, news and corporate data.
- Koscom DATAMall service (Historical Data Web Service) allows professionals and private investors to access the Financial Database, where immense amount of stocks, bonds, foreign exchange, economic, financial and international market information can be downloaded at users request in different formats.
- KOSMOS (Dealing System) is an optional module of the
, provides overseas DMA Direct Market AccessDirect market access ' is a term used in financial markets to describe electronic trading facilities that give investors wishing to trade in financial instruments a way to interact with the order book of an exchange. Normally, trading on the order book is restricted to broker-dealers and market...
(Direct Market Access) trading, FIX trading, global settlement and clearing functionalities and supports STP connections to international systems. It is widely used among international securities firms with branch offices in Korea. - Millennium Trading System (MTS) is provided to professional traders to execute trading strategy with speed and offers diverse functions.
- PenStar is a retirement pension record keeping system which provides a customized record management for financial institutions involved with retirement pension.
- PowerBase offers a complete IT solution that includes the basic operations of securities and futures firms as well as derivativesDerivative (finance)A derivative instrument is a contract between two parties that specifies conditions—in particular, dates and the resulting values of the underlying variables—under which payments, or payoffs, are to be made between the parties.Under U.S...
, asset management, bonds dealing, investment information and global trading. It offers customized service tailored to each customer's profile. - PowerBase Home Trading System (HTS) allows customers to enjoy securities or futures trading directly at home by using internet, mobile phone, PDA, or telephone without visiting the financial firms.
- PowerFrame helps customers to easily utilize the system that has standardized all the common unit operations required in any securities firm. PowerScreen helps the screen generation program used in securities or futures firms to implement their user-interface with ease and speed. A company can save up to 30% of developing costs simply by using PowerFrame and PowerScreen.
- SignKorea issues digital certificatesPublic key certificateIn cryptography, a public key certificate is an electronic document which uses a digital signature to bind a public key with an identity — information such as the name of a person or an organization, their address, and so forth...
applying digital signatureDigital signatureA digital signature or digital signature scheme is a mathematical scheme for demonstrating the authenticity of a digital message or document. A valid digital signature gives a recipient reason to believe that the message was created by a known sender, and that it was not altered in transit...
technology to provide a safe, secure environment for e-commerceElectronic commerceElectronic commerce, commonly known as e-commerce, eCommerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks. However, the term may refer to more than just buying and selling products online...
. Under the 'Electronic Signature Act' of 1999, Koscom served as one of the Certificate AuthoritiesCertificate authorityIn cryptography, a certificate authority, or certification authority, is an entity that issues digital certificates. The digital certificate certifies the ownership of a public key by the named subject of the certificate...
(CA) in Korea responsible for providing a safe digital certificate service for the financial community and its users. - Straight Through ProcessingStraight Through ProcessingStraight-through processing enables the entire trade process for capital markets and payment transactions to be conducted electronically without the need for re-keying or manual intervention, subject to legal and regulatory restrictions...
HUB System (STPStraight Through ProcessingStraight-through processing enables the entire trade process for capital markets and payment transactions to be conducted electronically without the need for re-keying or manual intervention, subject to legal and regulatory restrictions...
-HUB) connects the order-routing systems of local and international buy-sidesBuy sideBuy-side is a term used in investment banking to refer to advising institutions concerned with buying, rather than selling, assets or securities...
with those of the sell-sidesSell sideSell side is a term used in the financial services industry. It is a general term that indicates a firm that sells investment services to asset management firms, typically referred to as the buy side, or corporate entities...
, providing full automation ranging from placing order to settlement. - STOCK-NET (Broadband Telecommunication Network) is a financial exclusive network that provides rental service, securities network services, backup network services, internet services, global financial network services, maintenance & repair services and others.
- YouSB is a portable USB flash driveUSB flash driveA flash drive is a data storage device that consists of flash memory with an integrated Universal Serial Bus interface. flash drives are typically removable and rewritable, and physically much smaller than a floppy disk. Most weigh less than 30 g...
which is used to store and carry applications such as digital certificates, smart cardSmart cardA smart card, chip card, or integrated circuit card , is any pocket-sized card with embedded integrated circuits. A smart card or microprocessor cards contain volatile memory and microprocessor components. The card is made of plastic, generally polyvinyl chloride, but sometimes acrylonitrile...
, anti-keylogger, and antivirus protection programsAntivirus softwareAntivirus or anti-virus software is used to prevent, detect, and remove malware, including but not limited to computer viruses, computer worm, trojan horses, spyware and adware...
.
See also
- Koscom Goes Live with TAPS, SunGard’s Solution For Retirement Savings
- Koscom has picked the Progress Apama Algorithmic Trading Platform
- Koscom on RadianzNet
- Koscom Selects BT to Deliver Market Data
- Telsk completes Koscom SLM system establishment
- Koscom Routing Network Now Available via the Tradeweb Routing Network