Hana Bank Wins "Derivatives House of the Year 2025" Award

by Kwon Jaehee

Published 15 Jul.2025 08:45(KST)

Recognized for Leading the KOFR Market and Contributing to the Development of the Domestic Derivatives Market at the Korea Derivatives Association Event

Hana Bank Wins "Derivatives House of the Year 2025" Award

Hana Bank announced on July 15 that it has been awarded the "Derivatives House of the Year 2025" at the "2025 Korean Derivatives Awards (KDA Korean Derivatives Awards 2025)" organized by the Korea Derivatives Association.

At this year's event, Hana Bank was recognized for playing a key role in the early adoption and market activation of KOFR (Korea Overnight Financing Rate), the new risk-free benchmark rate, in line with the global transition in benchmark interest rates.

Hana Bank was highly evaluated for its leading contribution to the introduction and development of the KOFR-based OIS (Overnight Index Swap) market in Korea. This achievement is particularly significant as it comes ahead of the implementation of the "KOFR-based Derivatives Trading Promotion Policy" scheduled to begin in July 2025.

Cho Beomjun, Head of the Treasury Markets Group at Hana Bank, stated, "Hana Bank will continue to contribute to the stable establishment of the KOFR market, as well as to the development of the domestic capital market through new products and solutions. We will also strive to help our customers build their assets with a diverse and safe range of products."

Going forward, major domestic financial institutions plan to gradually increase the use of KOFR in Korean won interest rate swap (IRS) transactions. In addition, the Korea Exchange (KRX) will launch central counterparty (CCP) clearing services for KOFR OIS transactions starting in October 2025 to further enhance trading stability.

Meanwhile, the Korea Derivatives Association, established in 1991, is an academic organization leading research on both the theory and practice of domestic and international derivatives markets. Each year, the association selects and awards financial institutions that have made significant contributions to the development of the domestic capital market at the "APAD (Asia-Pacific Association of Derivatives) International Symposium."