Latest news with #TossSecurities
Korea Herald
4 days ago
- Business
- Korea Herald
Toss Securities profits surge 452% in H1
Toss Securities, the online brokerage arm of financial technology giant Toss, posted nearly a fivefold jump in first-half operating profit, setting new records across all key indicators. Operating profit reached 168.9 billion won ($122.1 million) in the January-June period, up 452 percent from a year earlier and surpassing the full-year total of 149 billion won in 2024 — the year the company first turned a profit. Operating revenue doubled from last year to 354 billion won, while net profit climbed 283 percent to 131.4 billion won, nearly matching last year's annual figure. The surge was fueled by continued gains in the company's overseas stock trading business, which dominates the domestic market with its convenience and innovative features. In March, Toss Securities extended after-hours trading for US stocks by two hours and introduced real-time translation of foreign companies' earnings calls, expanding data access for Korean traders. Upgrades to its web trading system also boosted transaction activity, the company said. In the second quarter, overseas stock trading volume jumped 166 percent from a year earlier, with trading fees up 177 percent and currency exchange fees rising 129 percent. Toss Securities plans to build on the momentum in the second half by adding new products and services. It will launch overseas stock lending and options trading, while further enhancing its web trading system to deliver a smoother and more reliable user experience.
Korea Herald
04-08-2025
- Business
- Korea Herald
Toss gains US broker-dealer license, eyes Q3 launch for direct trading
Toss Securities plans to offer direct trading for US shares soon, following the recent broker-dealer approval obtained by its subsidiary, the Internet brokerage firm announced Monday. TSA Financial, a US subsidiary of Toss Securities, was registered in June as a member of the Financial Industry Regulatory Authority, a self-regulatory organization for the US brokerage industry, according to the firm. With this license, Toss Securities can now provide direct brokerage services through TSA Financial, allowing clients to trade US stocks without intermediaries. The company plans to launch the direct brokerage service as early as the third quarter. This paves the way for Toss Securities to provide a more reliable investment environment by enhancing the stability of offshore stock transactions and strengthening its real-time monitoring system, the brokerage firm explained, adding it has begun preparing for the service launch by recruiting local talent and building system infrastructure. Toss Securities has been eager to explore further business opportunities in the US, driven by the growing volume of US stock trades by Korean investors. The company has consistently maintained around a 20 percent market share in the country's portion of stock transactions on the US market. As part of the move, the brokerage established TSA Financial in August, along with another US subsidiary, Toss Securities Americas. 'Obtaining the US broker-dealer license is a testament to our global service capabilities and internal control systems meeting international standards,' Toss Securities CEO Kim Kyu-bin said. 'We will continue to enhance our expertise in overseas brokerage to become a trusted global investment platform.' TSA Financial CEO Rich Hagen emphasized the company's commitment 'to building the local infrastructure and professional capabilities needed to support Toss Securities' global expansion.' 'With a deep understanding of the US market and regulatory landscape, we aim to serve as a bridgehead for Toss Securities' global business, while continuously identifying new growth drivers,' he added.
Korea Herald
14-02-2025
- Business
- Korea Herald
Toss Securities swings to first operating profit in 2024
Toss Securities, the brokerage arm of South Korean fintech giant Viva Republica, posted its first operating profit last year, driven by surging revenue from overseas stock trading. The company on Friday reported an operating profit of 149.2 billion won ($103.3 million) in 2024, marking its first time in the black since launching in 2021. Net profit came in at 131.5 billion won, extending its streak of profitability for a second year. Annual revenue more than doubled to 426.6 billion won from 2023. Toss Securities credited the strong performance to higher commission income from domestic and overseas stock trading, alongside increased foreign exchange fee revenue. The firm saw a sharp uptick in individual investors' interest in overseas markets, fueling a 211 percent surge in total overseas stock trading volume. User growth also accelerated, with the brokerage adding 1 million new members last year, bringing its total to over 6.6 million by the end of 2024. Monthly active users climbed 39 percent on-year to 3.84 million. To enhance its offerings, Toss Securities launched new services, including real-time overseas bond trading, a desktop platform and a research center focused on retail investors. "We achieved a major milestone last year thanks to the strong support of our customers," CEO Kim Gyu-bin said in a statement. "Leveraging our differentiated infrastructure and technology, Toss Securities will continue striving to become an investment platform for all." Toss Securities is an online-only brokerage operated within the financial super app Toss. Launched in March 2021, it became Korea's first newly licensed securities firm in 13 years.
