Tie-up with IBKR targets global market expansion

Firm also eyes connecting overseas investors to Korean market

Lee Byung-chul (right), chairman of Daol Financial Group, and Stacey Millers, senior vice president of IBKR, pose for a photo at a partnership signing ceremony held at Daol Investment & Securities' Yeouido headquarters on Thursday. [Daol Investment & Securities]
Lee Byung-chul (right), chairman of Daol Financial Group, and Stacey Millers, senior vice president of IBKR, pose for a photo at a partnership signing ceremony held at Daol Investment & Securities' Yeouido headquarters on Thursday. [Daol Investment & Securities]

Daol Investment & Securities announced Monday it is partnering with global online brokerage Interactive Brokers (IBKR) to build a two-way investment platform connecting Korean and global capital markets.

The two companies have launched a global trading platform called DAOL Fi PRO, which integrates the entire transaction process — from customer authentication and single sign-on (SSO) to electronic signatures, order execution, payment, and fund and ledger management — into a single service. It is the first outbound commercial model of its kind in South Korea.

The platform incorporates IBKR's smart-routing system, which compares asking prices and liquidity across multiple exchanges and alternative trading systems in real time to identify the optimal execution path, splitting or rerouting orders accordingly.

The platform also offers a range of order types, currently supporting eight, which allow investors to adjust buy and sell prices and execution timing based on market conditions and investment strategy. The companies plan to add specialized orders, including algorithmic orders, in stages, expanding the total to more than 26 types.

At launch, only overseas equities are available for trading. The brokerage commission for overseas stock transactions is 0.07 percent of the contract amount, and foreign exchange fees are applied at a 95 percent preferential rate.

Daol Investment & Securities plans to gradually expand the service to more than 170 global markets accessible through IBKR and to broaden the range of financial products offered, including derivatives.

A delegation from IBKR, including Senior Vice President Stacey Millers, visited Daol Investment & Securities on Thursday to discuss follow-up cooperation.

"The fact that two companies with different strengths worked through countless challenges together to launch a service for customers means this is far more than simply unveiling a new product," Daol Financial Group Chairman Lee Byung-chul said. "This launch is not the completion of our partnership but a new beginning. We look forward to further developing DAOL Fi PRO and expanding our cooperation into new products and markets as we grow together."


moon@heraldcorp.com