Shinhan Bank Launches Web-Based 'Shinhan eFX' Platform for Corporate FX Trading

Shinhan Bank said Tuesday it has revamped its non-face-to-face foreign exchange trading platform for corporate clients, "Shinhan eFX," into a web-based service.

Shinhan eFX is a specialized FX platform that lets corporate customers check real-time exchange rates online and execute trades. It offers transactions commonly used in corporate FX operations, including immediate settlement, spot FX, forward FX, market average rate (MAR) trades and FX swaps.

The key change is that eFX, previously offered as an add-on within the bank’s corporate internet banking, has been converted into a standalone platform. Shinhan Bank said it upgraded functions so orders can be executed immediately using real-time quote collection and an automated pricing engine, and it fully introduced "netting settlement" and "forward maturity management" features.

Netting settlement combines or offsets multiple transactions in the same currency and settlement account so only the net difference is paid, improving cash-management efficiency and reducing unnecessary settlement funding burdens. A Shinhan Bank official said the service has moved beyond an add-on to become a dedicated FX platform, adding that the bank will "raise corporate customers’ FX risk management to the next level" through differentiated features such as real-time trading, forward maturity management and integrated support for netting settlement.