South Korea’s Government Employees Pension Service (GEPS) plans to hire 15 brokerages to trade stocks, exchange-traded funds and bonds in its foreign investment portfolio.
Ten brokers will be responsible for trading global stocks and ETFs and five will trade global bonds, GEPS says in a request for proposal on December 8.
All the firms will be appointed for a period of six months starting January 1.
According to the RFP, applicants will be assessed on commissions charged, their research services, environmental social and governance management, and order execution capabilities.
Applications are open until December 15.
GEPS, a quasi-government body that provides pension services for civil servants, manages around US$17 billion of assets for 1.25 million members.