SEOUL (Reuters) – The Korea Exchange (KRX) said on Tuesday it was looking into Merrill Lynch’s <BAC.N> Seoul operation over alleged unfair stock trades.
“The KRX is looking into Merrill Lynch (South Korea operations) over unfair stocks trading allegations,” a KRX official told Reuters.Petitions on the website of the South Korean president’s office have called for investigations into Merrill Lynch’s KRX trades.
Merrill Lynch International Incorporated, Seoul Branch, is a subsidiary of Merrill Lynch International Inc.
Efforts to reach Merrill Lynch in Seoul, Hong Kong, Singapore and Tokyo for comment were not successful.
(Reporting by Hayoung Choi; Editing by Eric Meijer)