SOFX Recognized in Recent Technology Innovation Award

Online, January 8, 2012 (Newswire.com) - SOFX, a leading institution of global futures, clearing houses and over-the-counter markets today announced that its subsidiary SOFX Clearing Technology was recently named a winner in a Technology Innovation Awards summit.

The awards were judged by the industry's chairpersons in collaboration with editors from a leading magazine's publications and industry users of SOFX futures. During the awards, it was stated that "Perhaps the perfect example of regulators exerting pressure has been in the area of central clearing of credit derivatives. SOFX Clearing Department holds one of the few clearing houses to process credit default swaps, heeding the call of regulators and aiding to enable a transparent and capital efficient market."

In other developments, SOFX has also announced the employment of Kiong Jihn Eui as First Vice President; and Ri Sung Cheon, Vice President and Head of Client Relations. Each will be responsible for helping to advance the derivatives market model and serving as liaison with the SOFX specialist and floor broker communities, respectively. Both were hired shortly one after another, with only a week's difference between the two.

Kiong Jihn Eui, who will be working with SOFX specialists, will also lead the talks with regulators concerning changing the SOFX market model into one featuring more value-added participation by specialists. Prior to joining the SOFX staff, Mr. Kiong Jihn Eui was a president of SOFX specialist operations, overseeing the organization's unit on the SOFX trading floor.

Ri Sung Cheon, other than functioning as liaison with SOFX floor commodity trading advisors, will lead efforts by the SOFX to bring bigger opportunities for the agency community of the SOFX trading floor to demonstrate their continuing value to customers. Before being hired by SOFX, Mr. Ri Sung Cheon was the director of a large banking corporation, overseeing the firm's operations on the SOFX trading floor.