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Measures to cool leveraged ETF market to come 'as early as possible': Financial regulator
['The Hans India', 'About The Author', 'New Delhi']
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Seoul: South Korea's financial regulator said on Thursday it plans to carry out additional measures to cool the single-stock leveraged exchange-traded funds (ETFs) "as early as possible."
The FSC plans to prepare legal grounds to activate market stabilization measures by revising the Capital Markets Act with the Financial Supervisory Service (FSS), reports Yonhap news agency.
Earlier, financial authorities decided to hike the minimum cash deposit for single-stock leveraged ETF investments, which is set to go into effect on Friday.
Single-stock ETFs were launched in the local market on May 27.
Victims were instructed to transfer their XRP from domestic exchanges to designated wallets via an overseas exchange.