Koscom

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Koscom
Public
Industry Financial IT Service
Founded 1977 as Korea Securities Computing Corporation
Headquarters Seoul, South Korea
Key people
Woo, Joo Ha, CEO and Chairman
Revenue

₩203,862,168,098[1] KRW

$209 million USD (2007)
Number of employees
507 full-time[2] (2007)
Website www.koscom.co.kr

Koscom (acronym of Korea Securities Computing Corporation Korean: 코스콤, Koscom) is a Korean financial IT solutions company launched by the Ministry of Finance (MOSF) and the Korea Exchange (KRX) in 1977.[3] 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[edit]

Koscom was established in 1977 by the Ministry of Finance and the Korea Exchange. 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[4] 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[edit]

  • 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 authority entitled in February 2000
  • SignKorea (Digital Certificate) Service launched in April 2000
  • CMS (Consolidated Security Management) Center opened in January 2001
  • CMMI Level 4 achieved (CMMI: Capability Maturity Model Integration) in November 2005
  • PowerBase (Total solution for securities firms) launched in February 2007
  • Asia PKI Best Practice Award received in March 2007
  • The 30th Anniversary of Establishment celebrated in September 2007
  • Build Bond Trading System for Malaysia Exchange in February 2008
  • Operated pork futures trading system in Jul. 2008
  • Build Trading Platform for Lao Securities Exchange(LSX) in January 2011
  • Build Derivatives Clearing & Settlement System for Bursa Malaysia in February 2012
  • Build Trading Platform for Cambodia Securities Exchange(CSX) in April 2012

Services and products[edit]

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 Exchange (KRX) Trading System is categorized into three sections as below;

  • 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.

  • 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 <PowerBase>, provides overseas direct market access, 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 derivatives, 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 certificates applying digital signature technology to provide a safe, secure environment for e-commerce. Under the 'Electronic Signature Act' of 1999, Koscom served as one of the certificate authorities (CA) in Korea responsible for providing a safe digital certificate service for the financial community and its users.
  • Straight-through processing HUB System (STP-HUB) connects the order-routing systems of local and international buy-sides with those of the sell-sides, 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 drive which is used to store and carry applications such as digital certificates, smart card, anti-keylogger, and antivirus protection programs.

See also[edit]

References[edit]

  1. ^ "Koscom Financial Year". Koscom. Retrieved 10 April 2008. 
  2. ^ "Koscom Employees". Koscom. Retrieved 10 April 2008. 
  3. ^ "Koscom Overview". Koscom. Retrieved 10 April 2008. 
  4. ^ "Check Expert". Koscom. Retrieved 10 April 2008. 

External links[edit]