Futures firms` 2008 net jumps 41.7 pct

SEOUL, May 18 (Yonhap) -- The total earnings of futures firms in South Korea
gained 41.7 percent in fiscal 2008 from a year earlier as commission income rose
amid increased financial market volatility, the financial watchdog said Monday.
The combined net profit of 14 local futures companies and foreign players reached
102.3 billion won (US$81 million) in the April-March period, compared with 72.2
billion won the previous year, the Financial Supervisory Service said. They close
their books on March 31.
Their total commission income gained 20.9 percent on-year to 236.8 billion won in
the cited period as derivative trading increased due to higher market volatility
sparked by the global financial turmoil, the watchdog said.
Combined assets amounted to 2.69 trillion won as of the end of March, up 24.9
percent from the previous year.
Currently, 14 brokerage companies operate in South Korea, including three foreign
firms.
sooyeon@yna.co.kr
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