The new system is designed to deliver business efficiencies, minimize risk and provide greater visibility into the performance of the central bank’s foreign reserves.
The platform works by aligning and automating the Bank’s office processes and systems associated with foreign exchange trading in an effort to improve operational continuity.
It is hoped this will provide the Bank’s traders with enhanced analytical capabilities including real time analysis and simulations that involve changing risk factors such as foreign exchange rate, market price and volatility. The performance of trades can then be evaluated against a set of criteria, across multiple trades and to the global time weighted rate of return standard.
By better managing Korea’s foreign exchange reserves and boosting the performance of our foreign exchange trades, we will be able to increase foreign reserves and continue to build Korea’s economic status in the global marketplace, said Tae-Youn Chung, deputy director general, Bank of Korea.
