Seoul: Five local commercial banks were among the top seven institutions in foreign exchange trading over the past year, a market operator said Wednesday. The Seoul Foreign Exchange Market Committee released a list of the top seven institutions in foreign exchange transactions among 98 players in the local market over the 12 months through June.

According to Yonhap News Agency, the committee identified Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, NH Nonghyup Bank, state-run Korea Development Bank (KDB), and Credit Agricole of France as the leaders in spot trading. These institutions have demonstrated significant activity and influence within the foreign exchange market.

In terms of foreign exchange swap trading, the top seven institutions included Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, JPMorgan Chase, Standard Chartered Korea, and HSBC Korea. This diverse mix of local and international banks highlights their strategic roles in the market's swap trading sector.

The committee, a public-private voluntary body responsible for managing and operating the country's foreign exchange market, has been releasing these rankings since the previous year. The initiative aims to enhance competition in the local foreign exchange market and to encourage sound market practices.