"Think Tank"
for Securities Industry

- KSDA holds standards strategy session

The Korea Securities Dealers Association(KSDA) recently held a strategy session to discuss its management strategy for the first half of this year with 125 of its officers and staff attending headed by Hwang Kun-ho, the chairman.
The meeting was called into session as part of the association's management reform following the reorganization of its systems early in March with the launch of the Korea Securities Futures Exchange on Jan.27 separate from the KOSDAQ market.
The main subject for discussion at the meeting was to find a way to be the "think tank" for the securities industry by coming up with the standard for office workers, which would be appreciated by all the staff. Another subject was to search for ways to create an environment for a new labor-management culture to settle to maximize the synergistic effect from a new paradigm for an organization management model.
Chairman Hwang and department heads signed an affidavit of promotion of business to establish a new management system following the delegation of authority to department heads.
The gathering also dealt with matters like the personnel management system, effective reimbursement system, the training system upgrading and realistic assessment of the T&C system to bring reform and change in the association and the securities industry.
Director Lim Jong-rok of the association said we have been able to make ourselves united as one during the meeting and this is the initial year for the association to be born again as a security industry service organization.
To unwind after the meeting, officers and staff held a number of events for relaxation including soccer and other activities.
In the meantime, KSDA and Britain's International Securities Market Association Centre (ISMA Centre) agreed to operate a joint training program under the title of "Financial Risk Management: A Practical Approach for Emerging Markets."
The program is designed to improve risk management systems by learning from high-tech management methods and experiences of securities firms in advanced countries to cope effectively with such matters as foreign exchange rates, prices of raw materials and changes in interest rates and other economic shocks that require financial risk management.
The training will be provided free of charge for 11 days from April 18 at the Securities Association Training Institute. The training is designed to teach financial risk management system by getting core information from three areas including risk base compliance methods, potential risk management method and model and the method to quantify risks. At the same time, risk measurement method and management methods will be presented for viewing including the simulation methods both individually and in group so that the trainees would be able to experience them closely and would be able to use them at their offices.
In the future, the Securities Association Training Institute will try to find measures to strengthen the competitiveness of the securities industry by forging strategic tie-ups with the training institutes in advanced countries including Australia and continue to develop education programs on securities so they may be offered at home instead of overseas.
On April 18, the first day of the lecture will include subjects as the general ideas for risk, asset/liability management, the use of long-and mid-term treasury stocks, and interest rates and asset swaps.
On April 19, lectures will be on the use of the stock market and index futures, the determination of proper share prices, and shares and index swap.
On April 20, lectures will be on standard option and combination, options Greeks: Delta, Gamma, Vega, Theta, and Rho and Delta-Normal/Delta-Gamma methods.
On May 3, lectures will be made on Measuring VAR according to Delta analysis and the Delta-Gamma method. nw


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