Korea Exchange (KRX) said on the 25th that Clearing and Settlement Division Head Park Sang-uk was elected to the Executive Committee at the annual meeting of the Global Association of Central Counterparties (CCP Global) held in Amsterdam, Netherlands, on the morning of the 24th (local time).
At this general meeting, member institutions focused on Korea Exchange (KRX)'s solid clearing and settlement capabilities. In particular, it was assessed that, in step with the launch of the alternative exchange (NEXTRADE (NXT)), it significantly enhanced financial market stability through infrastructure upgrades.
CCP Global is a global association of 45 central counterparties (CCPs) from 33 countries responsible for clearing and settlement in capital markets, established in January 2001.
Initially led by 12 key institutions, it took its first step in London to enhance expertise in clearing, settlement, and risk management and to establish an efficient global regulatory framework. Korea Exchange (KRX) joined as a member at the third Chicago general meeting in November of the same year.
The Executive Committee, the association's highest decision-making body, is composed of representatives from 17 member firms and makes key decisions related to the association's operations. Senior executives of major CCPs from financial powerhouses such as the United States, the United Kingdom, Europe, and Japan are currently participating.
Korea Exchange (KRX) has served on the Executive Committee since 2022. Within the association, four working committees—policy, risk, operations, and quantitative disclosure—are in place and frequently coordinate key agenda items through videoconferences.
A Korea Exchange (KRX) official said, "We will continue to play a leading role in discussions on global CCP agendas through the CCP Global Executive Committee," adding, "We plan to continue efforts such as strengthening the international consistency of the risk management framework."