Shinhan Bank Opens Door to Same-Day Sell-to-Buy Trading of Retirement-Pension ETFs

[Financial News] Shinhan Bank will launch a same-day trading service for retirement-pension exchange-traded funds (ETFs).
According to financial industry sources on the 21st, Shinhan Bank customers with defined-contribution (DC) and individual retirement pension (IRP) accounts can sell ETFs they hold and buy other ETFs on the same day, even before the sale proceeds are settled.
The results of executed ETF sales are reflected in account balances within as little as two minutes and no later than 10 minutes, based on the system.
Shinhan Bank has also introduced 'Continue Trading,' the first such feature in the banking sector to connect the selling and buying processes in a single flow. After selling an ETF, customers can proceed directly to purchasing the next product without navigating back to a separate menu.
The bank also offers combined trading between ETFs and various retirement-pension products, including deposits, funds and target-date funds (TDFs). Customers can switch from deposits, funds or TDFs to ETFs, or from ETFs to deposits, funds or TDFs, allowing them to conveniently adjust their portfolios according to their investment decisions and asset-management plans.
Since this month, Shinhan Bank has also provided a service through Shinhan Super SOL, its integrated app, that allows customers to check real-time prices and key information for ETFs they are interested in.
Meanwhile, Shinhan Bank's retirement-pension reserves stood at 58.8888 trillion won as of the end of the second quarter this year, ranking first among all retirement-pension providers.
A Shinhan Bank official said, "This service improves the overall trading process so that retirement-pension customers can change products more quickly and conveniently in line with market conditions and their investment decisions." The official added, "We will continue to actively support customers in managing their pension assets by introducing differentiated products and digital services."

[email protected] Seo Ji-yoon Reporter