RBC Capital Markets has achieved a significant milestone by becoming the first Canadian bank to receive permission from the Korean Ministry of Economy and Finance to trade Korean Won (KRW) directly in Korea's onshore market as a Registered Foreign Institution (RFI). This registration marks a major advancement for global investors seeking efficient and cost-effective access to Korean currency markets, allowing them to execute KRW transactions through a single trusted relationship instead of navigating complex multi-institution workflows.
Strategic Expansion in Emerging Markets
Haider Ali, Global Head of FX Trading at RBC Capital Markets, stated, "We've long believed that our clients deserve seamless access to every market that matters to them, and Korea's markets present a significant opportunity. This reflects our strategic commitment to emerging market expansion, with Asia-Pacific and KRW capabilities serving as a key pillar of our growth. It's the result of years of coordinated global efforts and demonstrates our genuine commitment to making international investing better for our clients."
Enhanced Access for Investors
Korea's bond market is one of the largest and most actively traded in Asia. However, access to onshore KRW has historically required international investors to work with multiple local intermediaries, adding complexity and cost. By securing RFI status, RBC Capital Markets clients can now execute KRW transactions directly onshore, resulting in a more seamless experience and competitive pricing at every step.
This development is part of RBC Capital Markets' broader strategic commitment to emerging market FX expansion. As institutional, corporate, and commercial investors continue to diversify into Asian fixed income markets, having a partner who can execute onshore across currencies becomes increasingly important. RBC's global platform is purpose-built to meet that need, executing seamlessly across products and regions with the scale and infrastructure to back it up.
Comprehensive Foreign Exchange Solutions
RBC Capital Markets provides institutional, corporate, and commercial clients with comprehensive foreign exchange solutions across global markets. The FX platform combines global market access with specialist advisory, integrated research, and digital execution infrastructure, giving clients a real edge at every stage of execution. From strategic hedging to seamless multi-currency workflows, RBC delivers tailored solutions that simplify complexity and keep pace with clients' ambitions.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. The success comes from over 101,000 employees who leverage their imaginations and insights to bring the company's vision, values and strategy to life, helping clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world based on market capitalization, RBC has a diversified business model with a focus on innovation and providing exceptional experiences to more than 19 million clients in Canada, the U.S. and 27 other countries.
