Toss Securities said on Aug. 14 that starting on the 15th, Liberation Day, it will pay interest and principal on overseas bonds on public holidays and Saturdays. According to Toss Securities, it is the first among domestic securities firms.
Principal and interest on overseas bonds are delivered to domestic securities firms through Korea Securities Depository (KSD). Until now, even if the depository paid funds on public holidays or Saturdays, securities firms held them until the next business day before paying investors.
Toss Securities overhauled its systems so that interest and principal can be paid on the same day even if the scheduled payment date falls on a public holiday or Saturday. After it began paying dividends on overseas stocks on public holidays and Saturdays, it expanded the same approach to overseas bonds.
A Toss Securities official said, "When the payment date for overseas bond principal and interest overlaps with a public holiday or Saturday, schedules are often delayed, leading to continued customer inquiries," and added, "With this overhaul, we can deliver funds to customers as soon as the depository pays, reducing unnecessary delays."