Hana Bank (CEO Lee Ho-sung) announced on the afternoon of the 14th that it has been awarded the 'Derivatives House of the Year 2025' at the '2025 Korean Derivatives Awards (KDA Korean Derivatives Awards 2025)' ceremony hosted by the Korean Derivatives Association.

Hana Bank receives the '2025 Derivatives House of the Year' award

At this academic conference, Hana Bank received attention for its pivotal role in the early settlement and market activation of KOFR (Korea Overnight Financing Rate), a new risk-free benchmark rate, in line with the global trend of benchmark interest rate reform.

In particular, Hana Bank was highly praised for its leading contribution to the domestic introduction and formation of the KOFR-based OIS (Overnight Index Swap) market. This award is even more significant as it comes ahead of the 'Policy to Vitalize KOFR-Based Derivatives Trading' which will be implemented from July of this year.

Cho Bum-joon, Head of the Treasury Market Group at Hana Bank, stated, "Hana Bank will continue to contribute to the development of the domestic capital market through stable settlement of the KOFR market and new products and solutions," adding, "We will strive to contribute to our customers' asset formation with diverse and safe products."

Going forward, the proportion of KOFR usage in KRW interest rate swap (IRS) transactions by major domestic financial institutions is planned to be gradually expanded. The Korea Exchange (KRX) also plans to launch a central counterparty (CCP) clearing service for KOFR OIS transactions starting in October to support transaction stability.

Meanwhile, the Korean Derivatives Association, founded in 1991, is an academic organization that leads research on the theory and practice of domestic and international derivatives markets. The association selects and awards financial institutions that have significantly contributed to the development of the domestic capital market at the annual 'APAD (Asia-Pacific Association of Derivatives) International Symposium'.