{"id":42171,"date":"2026-02-13T23:03:53","date_gmt":"2026-02-13T23:03:53","guid":{"rendered":"https:\/\/www.globalresearch.co.kr\/insight\/foreign-exchange-market-mordor\/"},"modified":"2026-10-02T01:42:22","modified_gmt":"2026-10-01T16:42:22","slug":"foreign-exchange-market-mordor","status":"publish","type":"post","link":"https:\/\/www.globalresearch.co.kr\/insight\/foreign-exchange-market-mordor\/","title":{"rendered":"\uc138\uacc4\uc758 \uc678\ud658 \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d &#8211; \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2026 &#8211; 2031\ub144)"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/foreign-exchange-market-1750764928211-major-players.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/foreign-exchange-market-size-image-1768931812366.webp\" alt=\"Chart\" class=\"aligncenter size-full\" \/><\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-0\">1. \uc11c\ub860<\/p>\n<ul>\n<li class=\"toc-level-2\">1.1 \uc5f0\uad6c \uac00\uc815 \ubc0f \uc2dc\uc7a5 \uc815\uc758<\/li>\n<li class=\"toc-level-2\">1.2 \uc5f0\uad6c \ubc94\uc704<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-1\">2. \uc5f0\uad6c \ubc29\ubc95\ub860<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-2\">3. \uc694\uc57d<\/p>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-3\">4. \uc2dc\uc7a5 \ud658\uacbd<\/p>\n<ul>\n<li class=\"toc-level-2\">4.1 \uc2dc\uc7a5 \uac1c\uc694<\/li>\n<li class=\"toc-level-2\">4.2 \uc2dc\uc7a5 \ub3d9\uc778\n<ul>\n<li class=\"toc-level-3\">4.2.1 \uad6d\uacbd \uac04 \uc804\uc790\uc0c1\uac70\ub798 \uac70\ub798 \uc99d\uac00<\/li>\n<li class=\"toc-level-3\">4.2.2 \uad00\uad11 \ubc0f \uc774\uc8fc\ubbfc \uc1a1\uae08\uc758 \uae09\uc99d<\/li>\n<li class=\"toc-level-3\">4.2.3 \uc8fc\uc694 \ud1b5\ud654 \uc30d\uc758 \ub192\uc740 \uc720\ub3d9\uc131<\/li>\n<li class=\"toc-level-3\">4.2.4 \uc804\uc790 \uac70\ub798 \ud50c\ub7ab\ud3fc \ud655\uc7a5<\/li>\n<li class=\"toc-level-3\">4.2.5 24\uc2dc\uac04 \uc5f0\uc911\ubb34\ud734 \uc678\ud658 \uacb0\uc81c\ub97c \uac00\ub2a5\ud558\uac8c \ud558\ub294 \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c<\/li>\n<li class=\"toc-level-3\">4.2.6 \uc2a4\ud504\ub808\ub4dc\ub97c \uc555\ucd95\ud558\ub294 AI \uae30\ubc18 \uc801\uc751\ud615 \uc54c\uace0\ub9ac\uc998<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.3 \uc2dc\uc7a5 \uc81c\uc57d\n<ul>\n<li class=\"toc-level-3\">4.3.1 \ub192\uc544\uc9c4 \uac70\ub798 \uc0c1\ub300\ubc29 \ubc0f \uacb0\uc81c \uc2e4\ud328 \uc704\ud5d8<\/li>\n<li class=\"toc-level-3\">4.3.2 \uace0\ube48\ub3c4 \uac70\ub798\uc5d0 \ub300\ud55c \uaddc\uc81c \uac15\ud654<\/li>\n<li class=\"toc-level-3\">4.3.3 \uc720\ub3d9\uc131 \ud480\uc744 \ubd84\uc5f4\uc2dc\ud0a4\ub294 \uc9c0\uc815\ud559\uc801 \uc81c\uc7ac<\/li>\n<li class=\"toc-level-3\">4.3.4 \uc678\ud658 \uc778\ud504\ub77c\uc758 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uce68\ud574 \ube44\uc6a9 \uc99d\uac00<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.4 \uac00\uce58 \/ \uacf5\uae09\ub9dd \ubd84\uc11d<\/li>\n<li class=\"toc-level-2\">4.5 \uaddc\uc81c \ud658\uacbd<\/li>\n<li class=\"toc-level-2\">4.6 \uae30\uc220 \uc804\ub9dd<\/li>\n<li class=\"toc-level-2\">4.7 \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778\n<ul>\n<li class=\"toc-level-3\">4.7.1 \uad6c\ub9e4\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.7.2 \uacf5\uae09\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.7.3 \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.7.4 \ub300\uccb4\uc7ac\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.7.5 \uacbd\uc7c1 \uac15\ub3c4<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-4\">5. \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc131\uc7a5 \uc608\uce21 (\uac00\uce58)<\/p>\n<ul>\n<li class=\"toc-level-2\">5.1 \uc0c1\ud488 \uc720\ud615\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.1.1 \ud604\ubb3c \uc678\ud658<\/li>\n<li class=\"toc-level-3\">5.1.2 \uc678\ud658 \uc2a4\uc651<\/li>\n<li class=\"toc-level-3\">5.1.3 \ub2e8\uc21c \uc120\ubb3c\ud658<\/li>\n<li class=\"toc-level-3\">5.1.4 \ud1b5\ud654 \uc2a4\uc651<\/li>\n<li class=\"toc-level-3\">5.1.5 \uc678\ud658 \uc635\uc158<\/li>\n<li class=\"toc-level-3\">5.1.6 \uae30\ud0c0 \uc7a5\uc678 \ud30c\uc0dd\uc0c1\ud488<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.2 \uac70\ub798 \uc0c1\ub300\ubc29\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.2.1 \ubcf4\uace0 \ub51c\ub7ec<\/li>\n<li class=\"toc-level-3\">5.2.2 \uae30\ud0c0 \uae08\uc735 \uae30\uad00<\/li>\n<li class=\"toc-level-3\">5.2.3 \ube44\uae08\uc735 \uace0\uac1d<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.3 \ucc44\ub110\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.3.1 \uc628\ub77c\uc778<\/li>\n<li class=\"toc-level-3\">5.3.2 \uc624\ud504\ub77c\uc778<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.4 \uc9c0\uc5ed\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.4.1 \ubd81\ubbf8<\/li>\n<li class=\"toc-level-4\">5.4.1.1 \ubbf8\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.1.2 \uce90\ub098\ub2e4<\/li>\n<li class=\"toc-level-4\">5.4.1.3 \uba55\uc2dc\ucf54<\/li>\n<li class=\"toc-level-3\">5.4.2 \ub0a8\ubbf8<\/li>\n<li class=\"toc-level-4\">5.4.2.1 \ube0c\ub77c\uc9c8<\/li>\n<li class=\"toc-level-4\">5.4.2.2 \uc544\ub974\ud5e8\ud2f0\ub098<\/li>\n<li class=\"toc-level-4\">5.4.2.3 \uce60\ub808<\/li>\n<li class=\"toc-level-4\">5.4.2.4 \ucf5c\ub86c\ube44\uc544<\/li>\n<li class=\"toc-level-4\">5.4.2.5 \ub0a8\ubbf8 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.4.3 \uc720\ub7fd<\/li>\n<li class=\"toc-level-4\">5.4.3.1 \uc601\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.3.2 \ub3c5\uc77c<\/li>\n<li class=\"toc-level-4\">5.4.3.3 \ud504\ub791\uc2a4<\/li>\n<li class=\"toc-level-4\">5.4.3.4 \uc2a4\ud398\uc778<\/li>\n<li class=\"toc-level-4\">5.4.3.5 \uc774\ud0c8\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.4.3.6 \ubca0\ub124\ub8e9\uc2a4 (\ubca8\uae30\uc5d0, \ub124\ub35c\ub780\ub4dc, \ub8e9\uc148\ubd80\ub974\ud06c)<\/li>\n<li class=\"toc-level-4\">5.4.3.7 \ubd81\uc720\ub7fd (\uc2a4\uc6e8\ub374, \ub178\ub974\uc6e8\uc774, \ub374\ub9c8\ud06c, \ud540\ub780\ub4dc, \uc544\uc774\uc2ac\ub780\ub4dc)<\/li>\n<li class=\"toc-level-4\">5.4.3.8 \uc720\ub7fd \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.4.4 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591<\/li>\n<li class=\"toc-level-4\">5.4.4.1 \uc911\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.4.2 \uc778\ub3c4<\/li>\n<li class=\"toc-level-4\">5.4.4.3 \uc77c\ubcf8<\/li>\n<li class=\"toc-level-4\">5.4.4.4 \ub300\ud55c\ubbfc\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.4.5 \ud638\uc8fc<\/li>\n<li class=\"toc-level-4\">5.4.4.6 \ub3d9\ub0a8\uc544\uc2dc\uc544 (\uc2f1\uac00\ud3ec\ub974, \uc778\ub3c4\ub124\uc2dc\uc544, \ub9d0\ub808\uc774\uc2dc\uc544, \ud0dc\uad6d, \ubca0\ud2b8\ub0a8, \ud544\ub9ac\ud540)<\/li>\n<li class=\"toc-level-4\">5.4.4.7 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.4.5 \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74<\/li>\n<li class=\"toc-level-4\">5.4.5.1 \uc544\ub78d\uc5d0\ubbf8\ub9ac\ud2b8<\/li>\n<li class=\"toc-level-4\">5.4.5.2 \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544<\/li>\n<li class=\"toc-level-4\">5.4.5.3 \ub0a8\uc544\ud504\ub9ac\uce74 \uacf5\ud654\uad6d<\/li>\n<li class=\"toc-level-4\">5.4.5.4 \ub098\uc774\uc9c0\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.4.5.5 \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-5\">6. \uacbd\uc7c1 \ud658\uacbd<\/p>\n<ul>\n<li class=\"toc-level-2\">6.1 \uc2dc\uc7a5 \uc9d1\uc911\ub3c4<\/li>\n<li class=\"toc-level-2\">6.2 \uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784<\/li>\n<li class=\"toc-level-2\">6.3 \uc2dc\uc7a5 \uc810\uc720\uc728 \ubd84\uc11d<\/li>\n<li class=\"toc-level-2\">6.4 \uae30\uc5c5 \ud504\ub85c\ud544 (\uae00\ub85c\ubc8c \uc218\uc900 \uac1c\uc694, \uc2dc\uc7a5 \uc218\uc900 \uac1c\uc694, \ud575\uc2ec \ubd80\ubb38, \uc7ac\ubb34 \uc815\ubcf4(\uc0ac\uc6a9 \uac00\ub2a5\ud55c \uacbd\uc6b0), \uc804\ub7b5 \uc815\ubcf4, \uc8fc\uc694 \uae30\uc5c5\uc758 \uc2dc\uc7a5 \uc21c\uc704\/\uc810\uc720\uc728, \uc81c\ud488 \ubc0f \uc11c\ube44\uc2a4, \ucd5c\uadfc \uac1c\ubc1c \ud3ec\ud568)\n<ul>\n<li class=\"toc-level-3\">6.4.1 JPMorgan Chase &amp; Co.<\/li>\n<li class=\"toc-level-3\">6.4.2 Citigroup Inc.<\/li>\n<li class=\"toc-level-3\">6.4.3 UBS Group AG<\/li>\n<li class=\"toc-level-3\">6.4.4 Deutsche Bank AG<\/li>\n<li class=\"toc-level-3\">6.4.5 XTX Markets Ltd.<\/li>\n<li class=\"toc-level-3\">6.4.6 Bank of America Corp.<\/li>\n<li class=\"toc-level-3\">6.4.7 Barclays PLC<\/li>\n<li class=\"toc-level-3\">6.4.8 HSBC Holdings PLC<\/li>\n<li class=\"toc-level-3\">6.4.9 BNP Paribas SA<\/li>\n<li class=\"toc-level-3\">6.4.10 Goldman Sachs Group Inc.<\/li>\n<li class=\"toc-level-3\">6.4.11 Standard Chartered PLC<\/li>\n<li class=\"toc-level-3\">6.4.12 Morgan Stanley<\/li>\n<li class=\"toc-level-3\">6.4.13 Soci\u00e9t\u00e9 G\u00e9n\u00e9rale SA<\/li>\n<li class=\"toc-level-3\">6.4.14 State Street Corp.<\/li>\n<li class=\"toc-level-3\">6.4.15 BNY Mellon Corp.<\/li>\n<li class=\"toc-level-3\">6.4.16 TD Securities Inc.<\/li>\n<li class=\"toc-level-3\">6.4.17 RBC Capital Markets<\/li>\n<li class=\"toc-level-3\">6.4.18 Nomura Holdings Inc.<\/li>\n<li class=\"toc-level-3\">6.4.19 Citadel Securities LLC<\/li>\n<li class=\"toc-level-3\">6.4.20 Jump Trading LLC<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"toc-level-1 toc-content-heading\" id=\"toc-content-heading-6\">7. \uc2dc\uc7a5 \uae30\ud68c \ubc0f \ubbf8\ub798 \uc804\ub9dd<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\uc678\ud658 \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d: \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2026-2031)<\/p>\n<p># 1. \uc2dc\uc7a5 \uac1c\uc694 \ubc0f \uaddc\ubaa8 \uc804\ub9dd<\/p>\n<p>\uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc740 2025\ub144 0.89\uc870 \ub2ec\ub7ec\ub85c \ud3c9\uac00\ub418\uc5c8\uc73c\uba70, 2026\ub144 0.94\uc870 \ub2ec\ub7ec\uc5d0\uc11c 2031\ub144\uc5d0\ub294 1.22\uc870 \ub2ec\ub7ec\uc5d0 \uc774\ub97c \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \uc608\uce21 \uae30\uac04(2026-2031) \ub3d9\uc548 \uc5f0\ud3c9\uade0 \uc131\uc7a5\ub960(CAGR)\uc740 5.37%\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uacac\uace0\ud55c \uc131\uc7a5\uc740 \uc804\uc790 \uac70\ub798 \ud50c\ub7ab\ud3fc\uc758 \uad11\ubc94\uc704\ud55c \uc0ac\uc6a9, \uc911\uc559\uc740\ud589 \uc815\ucc45\uc758 \uafb8\uc900\ud55c \uc870\uc728, \uadf8\ub9ac\uace0 \uc0ac\ud6c4 \uac70\ub798 \ud504\ub85c\uc138\uc2a4\uac00 \uc0c1\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c\uc73c\ub85c \uc804\ud658\ub418\ub294 \ucd94\uc138\uc5d0 \ud798\uc785\uc740 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>\ub514\uc9c0\ud138 \uc0c1\uac70\ub798\uc758 \uc99d\uac00\uc640 \uc2e4\uc2dc\uac04 \uacb0\uc81c \uc774\ub2c8\uc154\ud2f0\ube0c\ub294 \uc2dc\uc7a5 \uc720\ub3d9\uc131\uc744 \uc2ec\ud654\uc2dc\ud0a4\uace0 \uc788\uc73c\uba70, \ucca8\ub2e8 \ubd84\uc11d \uae30\uc220\uc740 \ub9e4\uc218-\ub9e4\ub3c4 \uc2a4\ud504\ub808\ub4dc\ub97c \ucd95\uc18c\ud558\uace0 \uc911\uac1c \uc218\uc218\ub8cc\ub97c \uc555\ucd95\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub610\ud55c, \uc9c0\uc815\ud559\uc801 \uc704\ud5d8\uc774 \uc790\ubcf8 \ud750\ub984\uacfc \ud1b5\ud654 \uad00\uacc4\ub97c \ubcc0\ud654\uc2dc\ud0a4\uba74\uc11c \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc758 \ud5e4\uc9d5 \ud65c\ub3d9\uc774 \uac15\ud654\ub418\uc5b4 \ud30c\uc0dd\uc0c1\ud488 \uac70\ub798\ub7c9\uc774 \uc9c0\uc18d\uc801\uc73c\ub85c \ub192\uc740 \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ucd5c\uc0c1\uc704 \uc740\ud589\ub4e4\uc774 \uc5ec\uc804\ud788 \uae00\ub85c\ubc8c \uc720\ub3d9\uc131\uc758 \ub300\ubd80\ubd84\uc744 \uacf5\uae09\ud558\uc9c0\ub9cc, \uae30\uc220 \uacf5\uae09\uc5c5\uccb4\uc640 \ube44\uc740\ud589 \ub51c\ub7ec\ub4e4\uc740 \uc54c\uace0\ub9ac\uc998 \uac00\uaca9 \ucc45\uc815 \ubc0f \uace0\uc18d \uc5f0\uacb0\uc744 \ud1b5\ud574 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \ud655\ub300\ud558\uba70 \uc678\ud658 \uc2dc\uc7a5\uc758 \uacbd\uc7c1 \uad6c\ub3c4\ub97c \uc7ac\ud3b8\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\uc758 \uc8fc\uc694 \uc694\uc57d\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4:<br \/>\n*   \uc0c1\ud488 \uc720\ud615\ubcc4: 2025\ub144 \uc678\ud658 \uc2a4\uc651\uc774 \uc678\ud658 \uc2dc\uc7a5 \uc810\uc720\uc728\uc758 47.35%\ub97c \ucc28\uc9c0\ud558\uba70 \uc120\ub450\ub97c \ub2ec\ub838\uc73c\uba70, \uc678\ud658 \uc635\uc158\uc740 2031\ub144\uae4c\uc9c0 8.33%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uac70\ub798 \uc0c1\ub300\ubc29\ubcc4: 2025\ub144 \uae30\ud0c0 \uae08\uc735\uae30\uad00\uc774 \uc678\ud658 \uc2dc\uc7a5 \uc810\uc720\uc728\uc758 44.15%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, \ube44\uae08\uc735 \uace0\uac1d\uc740 2031\ub144\uae4c\uc9c0 7.63%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud558\ub294 \uadf8\ub8f9\uc774 \ub420 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<br \/>\n*   \ucc44\ub110\ubcc4: 2025\ub144 \uc628\ub77c\uc778 \ud50c\ub7ab\ud3fc\uc774 \uc678\ud658 \uc2dc\uc7a5 \uc810\uc720\uc728\uc758 75.63%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, 2031\ub144\uae4c\uc9c0 6.79%\uc758 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uc9c0\uc5ed\ubcc4: 2025\ub144 \uc720\ub7fd\uc774 \uc678\ud658 \uc2dc\uc7a5 \uc810\uc720\uc728\uc758 41.88%\ub97c \ucc28\uc9c0\ud558\uba70 \uac00\uc7a5 \ud070 \uc2dc\uc7a5\uc774\uc5c8\uc73c\uba70, \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591\uc740 2031\ub144\uae4c\uc9c0 7.71%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uce21\ub429\ub2c8\ub2e4.<\/p>\n<p># 2. \uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5 \ub3d9\ud5a5 \ubc0f \ud1b5\ucc30<\/p>\n<p> 2.1. \uc131\uc7a5 \ub3d9\uc778 (Drivers)<\/p>\n<p>*   \uad6d\uacbd \uac04 \uc804\uc790\uc0c1\uac70\ub798 \uac70\ub798 \uc99d\uac00 (+1.2% CAGR \uc601\ud5a5): \uae00\ub85c\ubc8c \ud310\ub9e4\uc790\ub4e4\uc774 \ub2e4\uc591\ud55c \ud1b5\ud654\ub85c \uacb0\uc81c\ub97c \ucc98\ub9ac\ud558\uba74\uc11c \ub514\uc9c0\ud138 \uc9c0\uac11 \ubc0f \uce74\ub4dc \ub124\ud2b8\uc6cc\ud06c\ub97c \ud1b5\ud55c \uc18c\uc561 \uc678\ud658 \uac70\ub798\ub7c9\uc774 \uc99d\uac00\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uad6d\uc81c\uacb0\uc81c\uc740\ud589(BIS)\uc740 \uad6d\ub0b4 \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c\uc744 \uc5f0\uacb0\ud558\ub294 \uc2e4\uc2dc\uac04 \uad6d\uacbd \uac04 \uacb0\uc81c \uc2dc\ubc94 \uc6b4\uc601\uc774 \uc77c\uad04 \ucc98\ub9ac \uc9c0\uc5f0\uc744 \uc5c6\uc560\uace0 \uc9c0\uc18d\uc801\uc778 \ud1b5\ud654 \uc804\ud658 \uc218\uc694\ub97c \ucd09\uc9c4\ud55c\ub2e4\uace0 \uc5b8\uae09\ud588\uc2b5\ub2c8\ub2e4. \ud074\ub77c\uc6b0\ub4dc \uae30\ubc18 \uac8c\uc774\ud2b8\uc6e8\uc774\ub294 \uc911\uc18c \uc218\ucd9c\uc5c5\uccb4\uac00 \uacb0\uc81c \uc2dc\uc810\uc5d0 \uc218\ucde8\uae08\uc744 \uc790\ub3d9 \ud5e4\uc9c0\ud560 \uc218 \uc788\ub3c4\ub85d \ud558\uc5ec \uc678\ud658 \uc2dc\uc7a5 \ucc38\uc5ec\ub97c \ud655\ub300\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub3d9\ub0a8\uc544\uc2dc\uc544\uc640 \ub77c\ud2f4 \uc544\uba54\ub9ac\uce74\uc5d0\uc11c \uc18c\ube44\uc790 \uc2dc\uc7a5\uc774 \ud655\ub300\ub428\uc5d0 \ub530\ub77c \ud604\uc9c0 \uc740\ud589\ub4e4\uc740 \ubaa8\ubc14\uc77c \uc571\uc5d0 \ub2e4\uc911 \ud1b5\ud654 \uacc4\uc815\uc744 \ub0b4\uc7a5\ud558\uc5ec \uc9c0\uc5ed \uc720\ub3d9\uc131 \ud480\uc744 \uac15\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc0c1\ud638 \uc6b4\uc6a9 \uac00\ub2a5\ud55c QR \ucf54\ub4dc \ud45c\uc900\uc740 \ub9c8\ucc30\uc744 \ub354\uc6b1 \uc904\uc5ec \uad6d\uacbd \uac04 \uc18c\ub9e4 \uc678\ud658 \ud750\ub984\uc758 \ub450 \uc790\ub9bf\uc218 \uc131\uc7a5\uc744 \uc9c0\uc18d\uc2dc\ud0a4\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \uc8fc\uc694 \ud1b5\ud654\uc30d\uc758 \ub192\uc740 \uc720\ub3d9\uc131 (+0.9% CAGR \uc601\ud5a5): BIS \uc0bc\ub144 \ubcf4\uace0\uc11c\uc5d0 \ub530\ub974\uba74 \uc77c\uc77c \uae00\ub85c\ubc8c \uc678\ud658 \uac70\ub798\uc561\uc774 7\uc870 \ub2ec\ub7ec\ub97c \ucd08\uacfc\ud558\uba70, USD-EUR, USD-JPY, GBP-USD\uac00 \ub300\ubd80\ubd84\uc744 \ucc28\uc9c0\ud569\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ud1b5\ud654\uc30d \uc8fc\ubcc0\uc758 \uc870\ubc00\ud55c \uc8fc\ubb38\uc7a5\uc740 \ub2e4\ub978 \ubaa8\ub4e0 \ud1b5\ud654\uc758 \uac00\uaca9 \ucc45\uc815\uc5d0 \uae30\uc900\uc774 \ub418\ub294 \ud0c0\uc774\ud2b8\ud55c \uc2a4\ud504\ub808\ub4dc\ub97c \uc81c\uacf5\ud569\ub2c8\ub2e4. CME \uadf8\ub8f9\uc740 \uc0c1\uc7a5 \uc678\ud658 \ubcf5\ud569 \uc0c1\ud488\uc758 \uc77c\ud3c9\uade0 \uac70\ub798\ub7c9\uc774 880\uc5b5 \ub2ec\ub7ec\ub97c \ucd08\uacfc\ud55c\ub2e4\uace0 \ubcf4\uace0\ud558\uba70, \uc774\ub294 \uae4a\uc740 \uc120\ubb3c \uc5f0\uacc4 \ud5e4\uc9d5 \ucc44\ub110\uc744 \ub098\ud0c0\ub0c5\ub2c8\ub2e4. \uc720\ub3d9\uc131 \uc9d1\uc911\uc740 \uac70\ub798 \ube44\uc6a9\uc744 \ub0ae\ucd94\uc9c0\ub9cc, \ud50c\ub798\uc2dc \uc5d0\ud53c\uc18c\ub4dc\ub294 \uc54c\uace0\ub9ac\uc998 \uccad\uc0b0\uc774 \uc5ec\ub7ec \uac70\ub798\uc18c\uc5d0 \ube60\ub974\uac8c \ud30c\uae09\ub420 \uc218 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc8fc\ubbc0\ub85c, \uc7ac\ubb34 \ub2f4\ub2f9\uc790\ub4e4\uc740 \ub2e4\uce35\uc801\uc778 \uc190\uc808\ub9e4 \ubc0f \uc635\uc158 \uc624\ubc84\ub808\uc774\ub97c \ubc30\ud3ec\ud574\uc57c \ud569\ub2c8\ub2e4. \uc911\uc559\uc740\ud589 \uc678\ud658 \uc2a4\uc651 \ub77c\uc778\uc740 \uc2a4\ud2b8\ub808\uc2a4 \uc0c1\ud669\uc5d0\uc11c \ud22c\uc790\uc790 \uc2e0\ub8b0\ub97c \uac15\ud654\ud558\ub294 \uac80\uc99d\ub41c \uc548\uc804\ub9dd \uc5ed\ud560\uc744 \ud569\ub2c8\ub2e4.<\/p>\n<p>*   \uc804\uc790 \uac70\ub798 \ud50c\ub7ab\ud3fc \ud655\uc7a5 (+1.5% CAGR \uc601\ud5a5): \uc8fc\uc694 \ub51c\ub7ec \uac04 \uac70\ub798 \ud50c\ub7ab\ud3fc\uc740 \uc548\uc815\uc801\uc778 \ud65c\ub3d9\uc744 \uc720\uc9c0\ud558\uc9c0\ub9cc, \uc790\uc0b0 \uad00\ub9ac\uc790\uc640 \uae30\uc5c5\uc774 \uacac\uc801 \uc9d1\uacc4\ub97c \ucd94\uad6c\ud568\uc5d0 \ub530\ub77c \ubcf4\uc870 \ub2e4\uc911 \ub51c\ub7ec \ud50c\ub7ab\ud3fc\uc740 \ub450 \uc790\ub9bf\uc218 \uac70\ub798\ub7c9 \uc99d\uac00\ub97c \uae30\ub85d\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. LSEG FX Connect\ub294 2,400\uac1c \uc774\uc0c1\uc758 \uace0\uac1d\uc744 200\uac1c \uc774\uc0c1\uc758 \uc720\ub3d9\uc131 \uacf5\uae09\uc5c5\uccb4\uc640 500\uac1c \ud1b5\ud654\uc30d\uc5d0 \uac78\uccd0 \uc5f0\uacb0\ud558\uba70, \ud558\ub8e8 \uc57d 4,600\uc5b5 \ub2ec\ub7ec\ub97c \uccad\uc0b0\ud569\ub2c8\ub2e4. ISO 20022 \uba54\uc2dc\uc9c0 \uc815\ub82c \ubc0f \uc2a4\ub9c8\ud2b8 \uc8fc\ubb38 \ub77c\uc6b0\ud305\uc740 \ube44\uc778\ub3c4\uc131 \uc120\ubb3c \ubc0f \uc635\uc158\uc5d0 \ub300\ud55c \uc811\uadfc\uc131\uc744 \ud655\ub300\ud558\uc5ec \uc678\ud658 \uc2dc\uc7a5 \ub0b4 \uc804\uc790 \ucc44\ub110\uc758 \uc804\uccb4\uc801\uc778 \uc810\uc720\uc728\uc744 \ub192\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc740\ud589\ub4e4\uc740 \uc800\uc9c0\uc5f0 \uac00\uaca9 \ucc45\uc815 \uc5d4\uc9c4\uacfc AI \uae30\ubc18 \ub9c8\uc9c4 \ubd84\uc11d\uc5d0 \ud22c\uc790\ud558\uc5ec \uc2dc\uc7a5 \uc9c0\ubc30\ub825\uc744 \ubc29\uc5b4\ud558\ub294 \ud55c\ud3b8, \ud540\ud14c\ud06c \uae30\uc5c5\ub4e4\uc740 \ud654\uc774\ud2b8 \ub77c\ubca8 API\uc640 \ub9de\ucda4\ud615 \uc6cc\ud06c\ud50c\ub85c\uc6b0 \ud50c\ub7ec\uadf8\uc778\uc744 \ud1b5\ud574 \ucc28\ubcc4\ud654\ub97c \uaf80\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   24\/7 \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c \ub3c4\uc785 (+0.7% CAGR \uc601\ud5a5): \uc911\uc559\uc740\ud589\uacfc \ucee8\uc18c\uc2dc\uc5c4\uc740 \uc911\uc559\uc740\ud589 \ud654\ud3d0\ub85c 24\uc2dc\uac04 PvP(Payment-versus-Payment) \uacb0\uc81c\ub97c \uc81c\uacf5\ud558\ub294 \ub3c4\ub9e4 CBDC(\uc911\uc559\uc740\ud589 \ub514\uc9c0\ud138 \ud654\ud3d0) \ube0c\ub9ac\uc9c0\ub97c \uc2dc\ubc94 \uc6b4\uc601 \uc911\uc785\ub2c8\ub2e4. BIS Project Agora\uc640 \uc2a4\uc704\uc2a4 \uad6d\ub9bd\uc740\ud589\uc758 Helvetia 3\ub2e8\uacc4 \ud14c\uc2a4\ud2b8\ub294 \uc740\ud589 \uac04 \uc678\ud658 \uac70\ub798\uc5d0 \ub300\ud55c \uc628\uccb4\uc778 \uc6d0\uc790\uc801 \uacb0\uc81c\ub97c \uc2dc\uc5f0\ud569\ub2c8\ub2e4. JP\ubaa8\uac74\uc758 \uc740\ud589 \uc8fc\ub3c4 \ub124\ud2b8\uc6cc\ud06c\ub294 USD-EUR \uc628\uccb4\uc778 \uc678\ud658 \uc2dc\ub098\ub9ac\uc624\ub97c \uacc4\ud68d\ud558\uc5ec \uc790\uae08 \uc870\ub2ec \uaca9\ucc28\ub97c \uc904\uc774\uace0 \ub2f4\ubcf4\ub97c \ud655\ubcf4\ud569\ub2c8\ub2e4. \uc9c0\uc18d\uc801\uc778 \uc21c\uacb0\uc81c \ubaa8\ub378\uc740 \uc77c\uc911 \ub2f9\uc88c \ub300\uc6d4\uc744 \uc904\uc774\uace0 \uae00\ub85c\ubc8c \uc790\uc0b0 \uad00\ub9ac\uc790\ub4e4\uc758 \uc77c\uc911 \uc7ac\uc870\uc815\uc744 \uac00\ub2a5\ud558\uac8c \ud558\uc5ec \uc678\ud658 \uc2dc\uc7a5 \ub0b4 \uc77c\uc911 \uac70\ub798 \ube48\ub3c4\ub97c \ub192\uc785\ub2c8\ub2e4.<\/p>\n<p>*   AI \uae30\ubc18 \uc801\uc751\ud615 \uc54c\uace0\ub9ac\uc998\uc744 \ud1b5\ud55c \uc2a4\ud504\ub808\ub4dc \uc555\ucd95 (+0.6% CAGR \uc601\ud5a5): AI \uae30\ubc18 \uc54c\uace0\ub9ac\uc998\uc740 \uc2dc\uc7a5 \ud6a8\uc728\uc131\uc744 \ub192\uc774\uace0 \ub9e4\uc218-\ub9e4\ub3c4 \uc2a4\ud504\ub808\ub4dc\ub97c \uc555\ucd95\ud558\uc5ec \uac70\ub798 \ube44\uc6a9\uc744 \uc808\uac10\ud558\ub294 \ub370 \uae30\uc5ec\ud569\ub2c8\ub2e4.<\/p>\n<p> 2.2. \uc81c\uc57d \uc694\uc778 (Restraints)<\/p>\n<p>*   \uac70\ub798 \uc0c1\ub300\ubc29 \ubc0f \uacb0\uc81c \uc2e4\ud328 \uc704\ud5d8 \uc99d\uac00 (\u22120.8% CAGR \uc601\ud5a5): \uc0c1\ud638 \uc5f0\uacb0\ub41c \uccad\uc0b0 \uccb4\uc778\uc740 \ub2e4\uce35 \uc2a4\uc651\uc758 \ud55c \ubd80\ubd84\uc774 \uacb0\uc81c\ub418\uc9c0 \uc54a\uc744 \uacbd\uc6b0 \ub51c\ub7ec\ub4e4\uc774 \uc5f0\uc1c4\uc801\uc778 \uc2e4\ud328\uc5d0 \ub178\ucd9c\ub420 \uc704\ud5d8\uc774 \uc788\uc2b5\ub2c8\ub2e4. BIS\ub294 \ub9c8\uc9c4 \uae09\ub4f1\uacfc \uc587\uc740 \ub2f4\ubcf4 \uc644\ucda9\uc561\uc774 \ud1b5\ud654 \uc7a5\ubd80 \uc804\ubc18\uc5d0 \uac78\uccd0 \ub808\ubc84\ub9ac\uc9c0 \ucd95\uc18c\ub97c \uac15\uc81c\ud588\ub358 \uc0ac\ub840\ub97c \uac15\uc870\ud569\ub2c8\ub2e4. \ud1a0\ud070 \uae30\ubc18 PvP \ud504\ub85c\ud1a0\ud0c0\uc785\uc774 \ud574\uacb0\ucc45\uc744 \uc81c\uc2dc\ud558\uc9c0\ub9cc, \uc544\uc9c1 \uc801\uc6a9 \ubc94\uc704\uac00 \uc81c\ud55c\uc801\uc774\uc5b4\uc11c \uae30\uc5c5\ub4e4\uc740 \uc0ac\uc804 \uac70\ub798 \uc2e0\uc6a9 \ud655\uc778 \ubc0f \uc77c\uc911 \uc720\ub3d9\uc131 \ub77c\uc778\uc744 \uac15\ud654\ud574\uc57c \ud569\ub2c8\ub2e4. \uc2e0\ud765 \uc2dc\uc7a5 \uc740\ud589\ub4e4\uc740 \uac00\uc7a5 \uac00\ud30c\ub978 \uc790\ubcf8 \ubd80\ub2f4\uc5d0 \uc9c1\uba74\ud558\uc5ec \uc678\ud658 \uc2dc\uc7a5 \ud65c\ub3d9\uc774 \uc704\ucd95\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \uace0\ube48\ub3c4 \uac70\ub798\uc5d0 \ub300\ud55c \uaddc\uc81c \uac15\ud654 (\u22120.6% CAGR \uc601\ud5a5): MiFID II\/MiFIR \uac1c\uc815\uc548\uc740 2026\ub144 6\uc6d4\uae4c\uc9c0 EU\uc5d0\uc11c \uc8fc\ubb38 \ud750\ub984\uc5d0 \ub300\ud55c \uc9c0\ubd88\uc744 \uae08\uc9c0\ud558\uace0 \ubc00\ub9ac\ucd08 \ub370\uc774\ud130 \uc2a4\ud0ec\ud504\ub97c \uc694\uad6c\ud558\ub294 \ud1b5\ud569 \ud14c\uc774\ud504\ub97c \ub3c4\uc785\ud560 \uc608\uc815\uc785\ub2c8\ub2e4. \ubbf8\uad6d \uc99d\uad8c\uac70\ub798\uc704\uc6d0\ud68c(SEC) \ub610\ud55c \uc7a5\uc678 \ub0b4\ubd80\ud654\uc5d0 \ub300\ud55c \uac10\ub3c5 \uac15\ud654\ub97c \uc2dc\uc0ac\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uaddc\uc81c \uc900\uc218 \uc5c5\uadf8\ub808\uc774\ub4dc\ub294 \ube44\uc6a9\uc744 \uc99d\uac00\uc2dc\ud0a4\uace0 \uc77c\ubd80 \uc9c0\uc5f0 \uc2dc\uac04 \ucc28\uc775 \uac70\ub798 \uc804\ub7b5\uc744 \uc704\ucd95\uc2dc\ucf1c \ucd5c\uace0 \ubcc0\ub3d9\uc131 \uae30\uac04 \ub3d9\uc548 \ud45c\uc2dc\ub418\ub294 \uc720\ub3d9\uc131\uc744 \uac10\uc18c\uc2dc\ud0ac \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uc54c\uace0\ub9ac\uc998 \uac00\uaca9 \ucc45\uc815\uc740 \uc5ec\uc804\ud788 \uacbd\uc7c1\ub825 \uc788\ub294 \uc2e4\ud589\uc758 \ud575\uc2ec\uc774\ubbc0\ub85c, \ub300\ud615 \ub51c\ub7ec\ub4e4\uc740 \uaddc\ubaa8\uc758 \uc774\uc810\uc744 \ud3ec\uae30\ud558\uc9c0 \uc54a\uace0 \uac10\uc2dc \uc758\ubb34\ub97c \ucda9\uc871\ud558\uae30 \uc704\ud574 \uc124\uba85 \uac00\ub2a5\ud55c AI \ub3c4\uad6c\uc5d0 \ub300\ud55c \ud22c\uc790\ub97c \uac00\uc18d\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \uc9c0\uc815\ud559\uc801 \uc81c\uc7ac\ub85c \uc778\ud55c \uc720\ub3d9\uc131 \ud480 \ubd84\uc5f4 (\u22120.9% CAGR \uc601\ud5a5): \uc9c0\uc815\ud559\uc801 \uc81c\uc7ac\ub294 \ud2b9\uc815 \uc9c0\uc5ed\uc774\ub098 \ud1b5\ud654\uc5d0 \ub300\ud55c \uc811\uadfc\uc744 \uc81c\ud55c\ud558\uc5ec \uc720\ub3d9\uc131 \ud480\uc744 \ubd84\uc5f4\uc2dc\ud0a4\uace0 \uc2dc\uc7a5 \ud6a8\uc728\uc131\uc744 \uc800\ud574\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uae00\ub85c\ubc8c \uc790\ubcf8 \ud750\ub984\uc5d0 \ubd88\ud655\uc2e4\uc131\uc744 \ub354\ud558\uace0 \uac70\ub798 \ube44\uc6a9\uc744 \uc99d\uac00\uc2dc\ud0ac \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \uc678\ud658 \uc778\ud504\ub77c\uc758 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uce68\ud574 \ube44\uc6a9 \uc99d\uac00 (\u22120.7% CAGR \uc601\ud5a5): \ud50c\ub7ab\ud3fc \ud2b8\ub798\ud53d \uc99d\uac00\uc5d0 \ub530\ub77c \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8\uc774 \ucee4\uc9c0\uba74\uc11c \uad00\ub828 \ube44\uc6a9\uc774 \uc99d\uac00\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc678\ud658 \uc2dc\uc7a5\uc758 \ub514\uc9c0\ud138\ud654\uac00 \uac00\uc18d\ud654\ub428\uc5d0 \ub530\ub77c, \uc81c\uacf5\uc5c5\uccb4\ub294 \ub2e4\ub2e8\uacc4 \uc778\uc99d, \uc81c\ub85c \ud2b8\ub7ec\uc2a4\ud2b8 \ub124\ud2b8\uc6cc\ud06c \ubd84\ud560 \ubc0f \uc2e4\uc2dc\uac04 \uc774\uc0c1 \uac10\uc9c0\uc5d0 \uc0c1\ub2f9\ud55c \uc608\uc0b0\uc744 \ud22c\uc785\ud558\uc5ec \uace0\uac1d \uc2e0\ub8b0\ub97c \ubcf4\ud638\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<p># 3. \ubd80\ubb38\ubcc4 \ubd84\uc11d<\/p>\n<p> 3.1. \uc0c1\ud488 \uc720\ud615\ubcc4 (By Instrument Type)<\/p>\n<p>\uc678\ud658 \uc2a4\uc651\uc740 2025\ub144 \uc678\ud658 \uc2dc\uc7a5 \uc810\uc720\uc728\uc758 47.35%\ub97c \ucc28\uc9c0\ud558\uba70 \ud575\uc2ec\uc801\uc778 \ud5e4\uc9d5 \uc5ed\ud560\uc744 \uc218\ud589\ud588\uc2b5\ub2c8\ub2e4. \uc678\ud658 \uc635\uc158\uc740 \ubcc0\ub3d9\uc131\uc774 \ud070 \uc815\ucc45 \ud658\uacbd\uc5d0\uc11c \uc7ac\ubb34 \ub2f4\ub2f9\uc790\ub4e4\uc774 \uaf2c\ub9ac \uc704\ud5d8 \ubcf4\ud638\ub97c \uc704\ud574 \ud65c\uc6a9\ud558\uba74\uc11c 2031\ub144\uae4c\uc9c0 8.33%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. 2024\ub144 \uc120\uac70 \ud6c4 \uba87 \uc8fc \ub3d9\uc548 CME \uadf8\ub8f9\uc740 \uae30\ub85d\uc801\uc778 EUR \ubc0f CAD \uc635\uc158 \uac70\ub798\ub7c9\uc744 \ubcf4\uace0\ud558\uba70 \uc774 \uc790\uc0b0 \ud074\ub798\uc2a4\uc758 \ubaa8\uba58\ud140\uc744 \ud655\uc778\ud588\uc2b5\ub2c8\ub2e4. \ud604\ubb3c \uac70\ub798\ub294 \uc810\ucc28 \uc11c\ube0c \ubc00\ub9ac\ucd08 \ub9e4\uce6d\uc744 \uc81c\uacf5\ud558\ub294 \ub2e4\uc911 \ub51c\ub7ec \ud1b5\ud569 \ud50c\ub7ab\ud3fc\uc73c\ub85c \uc774\ub3d9\ud558\uace0 \uc788\uc73c\uba70, \ub300\uaddc\ubaa8 \ube14\ub85d \uc8fc\ubb38\uc740 \uc120\ubb3c \ube14\ub85d\uc744 \ud65c\uc6a9\ud558\uc5ec \uc2dc\uc7a5\uc5d0\uc11c \ud655\uc815\uc801\uc778 \uc2a4\ud2b8\ub9ac\ubc0d \uacac\uc801\uc744 \ud655\ubcf4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc2a4\uc651\uc740 \ub610\ud55c \uc911\uc559\uc740\ud589 \uc720\ub3d9\uc131 \uc9c0\uc6d0\uc744 \uc6a9\uc774\ud558\uac8c \ud558\uba70, \uc544\uc6c3\ub77c\uc774\ud2b8 \ud3ec\uc6cc\ub4dc\ub294 \uc218\ucd9c\uc5c5\uccb4\uc758 \uc218\ucde8\uae08 \ud5e4\uc9d5\uc744 \ub3d5\uc2b5\ub2c8\ub2e4. \ud1b5\ud654 \uc2a4\uc651\uc740 \uad6d\ucc44 \ud504\ub85c\uadf8\ub7a8\uc744 \uc9c0\uc6d0\ud558\uba70, \uc804\uc790 \uc2a4\ud06c\ub9b0\uc774 \ubcf5\ud569 \uac00\uaca9\uc744 \ud45c\uc2dc\ud568\uc5d0 \ub530\ub77c \uc18c\uaddc\ubaa8 \uc774\uad6d\uc801 \ud30c\uc0dd\uc0c1\ud488\uc758 \ud22c\uba85\uc131\uc774 \ub192\uc544\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc54c\uace0\ub9ac\uc998 \uac00\uaca9 \ucc45\uc815\uc774 \ub9e4\uc218-\ub9e4\ub3c4 \uc2a4\ud504\ub808\ub4dc\ub97c \uc555\ucd95\ud568\uc5d0 \ub530\ub77c \uc218\uc775\uc740 \uc2e4\ud589\uc5d0\uc11c \ubd84\uc11d \uc911\uc2ec \uc790\ubb38\uc73c\ub85c \uc774\ub3d9\ud558\uace0 \uc788\uc73c\uba70, \ud50c\ub7ab\ud3fc \uc81c\uacf5\uc5c5\uccb4\ub294 \ubd84\uc11d \ub300\uc2dc\ubcf4\ub4dc\ub97c \ud45c\uc900 \ud328\ud0a4\uc9c0\uc5d0 \ud3ec\ud568\uc2dc\ud0a4\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ubcc0\ud654\ub294 \uc678\ud658 \uc0b0\uc5c5\uc5d0 \uc9c4\uc785\ud558\ub294 \uc911\uacac \uae30\uc5c5\ub4e4\uc758 \uc120\ud0dd\uc758 \ud3ed\uc744 \ub113\ud788\uace0, \ub370\uc774\ud130 \uae30\ubc18 \ud30c\uc0dd\uc0c1\ud488 \uc120\ud0dd\uc758 \ud544\uc694\uc131\uc744 \uac15\ud654\ud569\ub2c8\ub2e4.<\/p>\n<p> 3.2. \uac70\ub798 \uc0c1\ub300\ubc29\ubcc4 (By Counterparty)<\/p>\n<p>\uc790\uc0b0 \uad00\ub9ac\uc790 \ubc0f \uc5f0\uae30\uae08\uc744 \ud3ec\ud568\ud55c \uae30\ud0c0 \uae08\uc735\uae30\uad00\uc740 \uc704\uc784 \ub2e4\uac01\ud654 \ubc0f \ubd80\ucc44 \uc911\uc2ec \ud22c\uc790 \ud504\ub808\uc784\uc6cc\ud06c\uc5d0 \ud798\uc785\uc5b4 2025\ub144 \uc678\ud658 \uc2dc\uc7a5\uc5d0\uc11c 44.15%\uc758 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub4e4 \uc911 \ub2e4\uc218\ub294 \uc2dc\uc7a5 \uc601\ud5a5\uc744 \uc81c\ud55c\ud558\uae30 \uc704\ud574 \uc2dc\uac04 \uac00\uc911 \uc54c\uace0\ub9ac\uc998\uc744 \ud1b5\ud574 \ubc14\uc2a4\ucf13\uc744 \uc2e4\ud589\ud558\uba70, \ud2f0\ucf13 \ube44\uc6a9\uc744 \ub0ae\ucd94\ub294 \ube0c\ub85c\ucee4\uc758 &#8220;\uc9c1\uc811 \uc2dc\uc7a5 \uc811\uadfc&#8221; \ud30c\uc774\ud504\ub97c \ud65c\uc6a9\ud569\ub2c8\ub2e4. \ubcf4\uace0 \ub51c\ub7ec\ub4e4\uc740 \uc5ec\uc804\ud788 \ub300\ubd80\ubd84\uc758 \uc740\ud589 \uac04 \ud750\ub984\uc744 \uc911\uac1c\ud558\uc9c0\ub9cc, \uc2dc\uc7a5 \ub0b4 \ud22c\uba85\uc131\uc774 \ub192\uc544\uc9c0\uba74\uc11c \ub9c8\uc9c4\uc740 \ucd95\uc18c\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\ube44\uae08\uc735 \uace0\uac1d\uc740 7.63%\uc758 CAGR\ub85c \uac00\uc7a5 \uac15\ub825\ud55c \uc131\uc7a5\uc138\ub97c \ubcf4\uc77c \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc81c\uc870\uc5c5\uccb4\uc758 \uacf5\uae09\ub9dd \ub9ac\uc1fc\uc5b4\ub9c1\uc740 \ub2e4\uc911 \ud1b5\ud654 \uc778\ubcf4\uc774\uc2a4 \ubc1c\ud589\uc5d0 \ub300\ud55c \uc120\ub3c4 \ucee4\ubc84\ub97c \ud655\ubcf4\ud558\uace0, \uae30\uc220 \uc218\ucd9c\uc5c5\uccb4\ub294 \uad6c\ub3c5 \uc218\uc775\uc744 \ud5e4\uc9c0\ud569\ub2c8\ub2e4. \uc2f1\uac00\ud3ec\ub974 \uae30\ubc18 DBS \uc740\ud589\uc740 2025\ub144 SecureFX\ub97c \ucd9c\uc2dc\ud558\uc5ec \uc911\uc18c\uae30\uc5c5\uc774 5\uac1c \ud1b5\ud654\uc30d\uc5d0 \ub300\ud574 \ucd5c\ub300 100\ub9cc \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uac70\ub798\uc5d0 \ub300\ud574 \ucd5c\ub300 \ud55c \ub2ec \uc804\uae4c\uc9c0 \ud658\uc728\uc744 \uace0\uc815\ud560 \uc218 \uc788\ub3c4\ub85d \ud588\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc11c\ube44\uc2a4\uc758 \uc131\uacf5\uc740 \ubbf8\uac1c\ucc99\ub41c \uc2dc\uc7a5 \uce68\ud22c \uc7a0\uc7ac\ub825\uc744 \uc2dc\uc0ac\ud569\ub2c8\ub2e4. \uc124\ubb38\uc870\uc0ac\uc5d0 \ub530\ub974\uba74 \ub9ce\uc740 \uc911\uacac \uae30\uc5c5\ub4e4\uc774 \ubcc0\ub3d9\uc131\uc774 \ud070 \ud22c\uc785\uc5d0\ub3c4 \ubd88\uad6c\ud558\uace0 \uc5f0\uac04 4\ud68c \ubbf8\ub9cc\uc758 \ud5e4\uc9c0 \uc0ac\uc774\ud074\uc744 \uc644\ub8cc\ud558\uace0 \uc788\uc5b4, \uc678\ud658 \uc2dc\uc7a5\uc5d0\uc11c \uc6cc\ud06c\ud50c\ub85c\uc6b0 \uc18c\ud504\ud2b8\uc6e8\uc5b4\uc640 \uc5f0\ub3d9\ub41c \uad6c\uc870\ud654\ub41c \ud5e4\uc9d5 \ud3ec\ud138\ub85c\uc758 \uc628\ubcf4\ub529 \uc5ec\uc9c0\uac00 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4.<\/p>\n<p> 3.3. \ucc44\ub110\ubcc4 (By Channel)<\/p>\n<p>\uc628\ub77c\uc778 \ud50c\ub7ab\ud3fc\uc740 2025\ub144 \uc678\ud658 \uc2dc\uc7a5\uc758 75.63%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, \uc6b0\uc218\ud55c \uc18d\ub3c4, \uc138\ubd84\ud654 \ubc0f \uac10\uc0ac \ucd94\uc801 \uae30\ub2a5\uc744 \ubc14\ud0d5\uc73c\ub85c 2031\ub144\uae4c\uc9c0 6.79%\uc758 \uc131\uc7a5\ub960\uc744 \ubcf4\uc77c \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. LSEG\uc758 \uc6cc\ud06c\ud50c\ub85c\uc6b0 \uc2a4\uc704\ud2b8\ub294 RFQ(\uacac\uc801 \uc694\uccad), \uc2a4\ud2b8\ub9ac\ubc0d \ubc0f \uc54c\uace0\ub9ac\uc998 \ub3c4\uad6c\ub97c \uacb0\ud569\ud558\uc5ec \uc7ac\ubb34 \ub2f4\ub2f9\uc790\ub4e4\uc774 \uc5ec\ub7ec \uac70\ub798\uc18c\uc5d0\uc11c \uccb4\uacb0 \ud488\uc9c8\uc744 \ubca4\uce58\ub9c8\ud0b9\ud560 \uc218 \uc788\ub3c4\ub85d \ud569\ub2c8\ub2e4. \ub51c\ub7ec\ub4e4\uc740 \ub610\ud55c \uac70\ub798 \ud655\uc778, \uc0c1\uacc4 \ubc0f \uc790\uae08 \uc870\ub2ec\uc744 \uac70\uc758 \uc2e4\uc2dc\uac04\uc73c\ub85c \ub3d9\uae30\ud654\ud558\ub294 \uc628\uccb4\uc778 \uacb0\uc81c \uc2dc\ubc94 \uc6b4\uc601\uc744 \ud1b5\ud569\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uad6c\uc870\ud654\ub41c \ucc44\uad8c \ubc0f \uc2e0\ub514\ucf00\uc774\ud2b8 \ub300\ucd9c\uc5d0 \uc5ec\uc804\ud788 \uc911\uc694\ud55c \uc624\ud504\ub77c\uc778 \ucc44\ub110\uc740 \uc804\ubb38\uc801\uc778 \uac00\uce58\ub97c \uc720\uc9c0\ud558\uc9c0\ub9cc, \ud750\ub984 \ube44\uc988\ub2c8\uc2a4\ub294 \ub514\uc9c0\ud138 \uacbd\uc7c1\uc790\uc5d0\uac8c \uc591\ubcf4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. ISO 20022 \uba54\uc2dc\uc9d5\uc73c\ub85c\uc758 \uc804\ud658\uc740 \ubc31\uc624\ud53c\uc2a4 \ud300\uc774 \ub9e4\uce6d \ubc0f \uc870\uc815 \uc791\uc5c5\uc744 \uc790\ub3d9\ud654\ud560 \uc218 \uc788\ub3c4\ub85d \ud558\uc5ec STP(Straight-Through Processing)\ub97c \ucd09\uc9c4\ud569\ub2c8\ub2e4. \ub3c4\uc774\uce58\ubc45\ud06c\uc758 dbX \uc2a4\uc704\ud2b8\ub294 API \uc6b0\uc120 \uad6d\uacbd \uac04 \uacb0\uc81c\uc640 \uc804\ud1b5\uc801\uc778 \ucf54\ub808\uc2a4\ud3f0\ub358\ud2b8 \ub124\ud2b8\uc6cc\ud06c\ub97c \uacb0\ud569\ud55c \ud558\uc774\ube0c\ub9ac\ub4dc \ubaa8\ub378\uc758 \uc88b\uc740 \uc608\uc785\ub2c8\ub2e4. \ud50c\ub7ab\ud3fc \ud2b8\ub798\ud53d\uacfc \ud568\uaed8 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8\uc774 \uc99d\uac00\ud568\uc5d0 \ub530\ub77c, \uc81c\uacf5\uc5c5\uccb4\ub294 \uace0\uac1d \uc2e0\ub8b0\ub97c \ubcf4\ud638\ud558\uae30 \uc704\ud574 \ub2e4\ub2e8\uacc4 \uc778\uc99d, \uc81c\ub85c \ud2b8\ub7ec\uc2a4\ud2b8 \ub124\ud2b8\uc6cc\ud06c \ubd84\ud560 \ubc0f \uc2e4\uc2dc\uac04 \uc774\uc0c1 \uac10\uc9c0\uc5d0 \uc0c1\ub2f9\ud55c \uc608\uc0b0\uc744 \ud22c\uc785\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># 4. \uc9c0\uc5ed\ubcc4 \ubd84\uc11d<\/p>\n<p>*   \uc720\ub7fd: 2025\ub144 \uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc758 41.88%\ub97c \ucc28\uc9c0\ud558\uba70 \uac00\uc7a5 \ud070 \uc2dc\uc7a5\uc785\ub2c8\ub2e4. \uc774\ub294 \uae4a\uc740 \ub51c\ub7ec \ud480\uacfc \uc870\ud654\ub85c\uc6b4 \uaddc\uc81c \ub355\ubd84\uc785\ub2c8\ub2e4. \uc720\ub7fd\uc911\uc559\uc740\ud589(ECB)\uc740 \uc720\ub85c\uac00 \uc804 \uc138\uacc4\uc5d0\uc11c \ub450 \ubc88\uc9f8\ub85c \ub9ce\uc774 \uc0ac\uc6a9\ub418\ub294 \ud1b5\ud654\ub85c\uc790\ub9ac\ub9e4\uae40\ud558\ub294 \ub370 \uc911\uc694\ud55c \uc5ed\ud560\uc744 \ud569\ub2c8\ub2e4. \ub7f0\ub358\uc740 \uc5ec\uc804\ud788 \uc138\uacc4 \uc678\ud658 \uac70\ub798\uc758 \uc8fc\uc694 \ud5c8\ube0c\uc774\uba70, MiFID II\uc640 \uac19\uc740 \uaddc\uc81c \ud504\ub808\uc784\uc6cc\ud06c\ub294 \uc2dc\uc7a5 \ud22c\uba85\uc131\uacfc \ud6a8\uc728\uc131\uc744 \ub192\uc774\ub294 \ub370 \uae30\uc5ec\ud588\uc2b5\ub2c8\ub2e4. \ub610\ud55c, \uc720\ub7fd\uc740 \ub514\uc9c0\ud138 \uc804\ud658\uacfc \ud540\ud14c\ud06c \ud601\uc2e0\uc744 \uc801\uadf9\uc801\uc73c\ub85c \uc218\uc6a9\ud558\uba70 \uc0c8\ub85c\uc6b4 \uac70\ub798 \ud50c\ub7ab\ud3fc\uacfc \uae30\uc220 \uc194\ub8e8\uc158\uc758 \ub3c4\uc785\uc744 \uc120\ub3c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \ubd81\ubbf8: \ubbf8\uad6d \ub2ec\ub7ec\uc758 \uae30\ucd95 \ud1b5\ud654 \uc9c0\uc704\uc640 \ub274\uc695\uc758 \uae08\uc735 \ud5c8\ube0c \uc5ed\ud560 \ub355\ubd84\uc5d0 \uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc5d0\uc11c \uc0c1\ub2f9\ud55c \ube44\uc911\uc744 \ucc28\uc9c0\ud569\ub2c8\ub2e4. \uae30\uc220 \ud601\uc2e0\uacfc \uace0\ube48\ub3c4 \uac70\ub798(HFT)\uc758 \ubc1c\uc804\uc774 \ub450\ub4dc\ub7ec\uc9c0\uba70, \uae30\uad00 \ud22c\uc790\uc790\ub4e4\uc758 \ucc38\uc5ec\uac00 \ud65c\ubc1c\ud569\ub2c8\ub2e4. \uaddc\uc81c \ud658\uacbd\uc740 \ube44\uad50\uc801 \uc131\uc219\ud558\uba70, CFTC(\uc0c1\ud488\uc120\ubb3c\uac70\ub798\uc704\uc6d0\ud68c)\uc640 \uac19\uc740 \uae30\uad00\uc774 \uc2dc\uc7a5\uc758 \uc548\uc815\uc131\uc744 \uac10\ub3c5\ud569\ub2c8\ub2e4.<\/p>\n<p>*   \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591: \uc911\uad6d \uc704\uc548\ud654\uc758 \uad6d\uc81c\ud654 \ub178\ub825\uacfc \uc77c\ubcf8 \uc5d4\ud654\uc758 \uc548\uc815\uc131, \uadf8\ub9ac\uace0 \uc2f1\uac00\ud3ec\ub974, \ud64d\ucf69, \uc2dc\ub4dc\ub2c8\uc640 \uac19\uc740 \uc8fc\uc694 \uae08\uc735 \uc13c\ud130\uc758 \uc131\uc7a5\uc774 \ud2b9\uc9d5\uc785\ub2c8\ub2e4. \uc774 \uc9c0\uc5ed\uc740 \ud2b9\ud788 \uc2e0\ud765 \uc2dc\uc7a5 \ud1b5\ud654\uc758 \uac70\ub798\uac00 \ud65c\ubc1c\ud558\uba70, \ub514\uc9c0\ud138 \uacb0\uc81c \uc194\ub8e8\uc158\uacfc \ube14\ub85d\uccb4\uc778 \uae30\ubc18 \uc678\ud658 \uac70\ub798\uc5d0 \ub300\ud55c \uad00\uc2ec\uc774 \ub192\uc2b5\ub2c8\ub2e4. \uacbd\uc81c \uc131\uc7a5\uacfc \ubb34\uc5ed\ub7c9 \uc99d\uac00\uac00 \uc678\ud658 \uc2dc\uc7a5\uc758 \ud655\uc7a5\uc744 \uacac\uc778\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \uae30\ud0c0 \uc9c0\uc5ed(\ub77c\ud2f4 \uc544\uba54\ub9ac\uce74, \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74): \uc774 \uc9c0\uc5ed\ub4e4\uc740 \uc6d0\uc790\uc7ac \uc218\ucd9c\uc785\uacfc \uad00\ub828\ub41c \ud1b5\ud654 \uac70\ub798\uac00 \ud65c\ubc1c\ud558\uba70, \uc815\uce58\uc801 \uc548\uc815\uc131\uacfc \uacbd\uc81c \uc815\ucc45 \ubcc0\ud654\uc5d0 \ub530\ub77c \uc678\ud658 \uc2dc\uc7a5\uc758 \ubcc0\ub3d9\uc131\uc774 \ud070 \uacbd\ud5a5\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ucd5c\uadfc\uc5d0\ub294 \ub514\uc9c0\ud138 \uae08\uc735 \uc778\ud504\ub77c \uad6c\ucd95\uacfc \ud540\ud14c\ud06c \ub3c4\uc785\uc744 \ud1b5\ud574 \uc2dc\uc7a5 \uc811\uadfc\uc131\uc744 \ub192\uc774\uace0 \uc720\ub3d9\uc131\uc744 \uac1c\uc120\ud558\ub824\ub294 \ub178\ub825\uc774 \uc9c4\ud589\ub418\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># 5. \uc8fc\uc694 \uc2dc\uc7a5 \ucc38\uc5ec\uc790<\/p>\n<p>\uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc740 \ub2e4\uc591\ud55c \uc720\ud615\uc758 \ucc38\uc5ec\uc790\ub4e4\uc774 \ubcf5\uc7a1\ud558\uac8c \uc5bd\ud600 \uc0c1\ud638\uc791\uc6a9\ud558\ub294 \uc0dd\ud0dc\uacc4\uc785\ub2c8\ub2e4. \uc774\ub4e4\uc740 \uac01\uc790\uc758 \ubaa9\uc801\uacfc \uc804\ub7b5\uc5d0 \ub530\ub77c \uc2dc\uc7a5\uc5d0 \uc720\ub3d9\uc131\uc744 \uacf5\uae09\ud558\uace0 \uac00\uaca9\uc744 \ud615\uc131\ud558\uba70, \uc2dc\uc7a5\uc758 \ud6a8\uc728\uc131\uacfc \uc5ed\ub3d9\uc131\uc744 \uacb0\uc815\ud569\ub2c8\ub2e4.<\/p>\n<p>*   \uc911\uc559\uc740\ud589 \ubc0f \uc815\ubd80: \ud1b5\ud654 \uc815\ucc45\uc744 \uc2e4\ud589\ud558\uace0 \ud658\uc728\uc744 \uc548\uc815\ud654\ud558\uba70 \uc678\ud658 \ubcf4\uc720\uace0\ub97c \uad00\ub9ac\ud558\ub294 \uc8fc\uc694 \uc8fc\uccb4\uc785\ub2c8\ub2e4. \uc2dc\uc7a5 \uac1c\uc785\uc744 \ud1b5\ud574 \uc790\uad6d \ud1b5\ud654\uc758 \uac00\uce58\ub97c \uc870\uc808\ud558\uac70\ub098 \uacbd\uc81c \uc548\uc815\uc131\uc744 \ub3c4\ubaa8\ud569\ub2c8\ub2e4.<\/p>\n<p>*   \uc0c1\uc5c5\uc740\ud589 \ubc0f \ud22c\uc790\uc740\ud589: \uc678\ud658 \uc2dc\uc7a5\uc758 \ud575\uc2ec\uc801\uc778 \ub51c\ub7ec \uc5ed\ud560\uc744 \uc218\ud589\ud569\ub2c8\ub2e4. \uace0\uac1d\uc744 \uc704\ud55c \uac70\ub798\ub97c \uc911\uac1c\ud558\uace0, \uc790\uccb4 \uacc4\uc815\uc73c\ub85c \ud22c\uae30\uc801 \uac70\ub798\ub97c \ud558\uac70\ub098 \ud5e4\uc9d5 \uc804\ub7b5\uc744 \uc2e4\ud589\ud569\ub2c8\ub2e4. \uc774\ub4e4\uc740 \uc2dc\uc7a5\uc5d0 \uac00\uc7a5 \ub9ce\uc740 \uc720\ub3d9\uc131\uc744 \uacf5\uae09\ud558\uba70, \uc740\ud589 \uac04 \uc2dc\uc7a5(Interbank Market)\uc758 \uc8fc\uc694 \ucc38\uc5ec\uc790\uc785\ub2c8\ub2e4.<\/p>\n<p>*   \uae30\uad00 \ud22c\uc790\uc790: \ud5e4\uc9c0\ud380\ub4dc, \uc5f0\uae30\uae08, \uc790\uc0b0\uc6b4\uc6a9\uc0ac \ub4f1\uc774 \ud3ec\ud568\ub429\ub2c8\ub2e4. \uc774\ub4e4\uc740 \ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ub2e4\uac01\ud654, \uc218\uc775 \ucd94\uad6c, \ud658\uc728 \ubcc0\ub3d9 \uc704\ud5d8 \ud5e4\uc9d5 \ub4f1\uc758 \ubaa9\uc801\uc73c\ub85c \ub300\uaddc\ubaa8 \uc678\ud658 \uac70\ub798\ub97c \uc218\ud589\ud569\ub2c8\ub2e4. \uc54c\uace0\ub9ac\uc998 \ud2b8\ub808\uc774\ub529\uacfc \uace0\ube48\ub3c4 \uac70\ub798(HFT)\ub97c \uc801\uadf9\uc801\uc73c\ub85c \ud65c\uc6a9\ud558\ub294 \uacbd\ud5a5\uc774 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>*   \ub2e4\uad6d\uc801 \uae30\uc5c5: \uad6d\uc81c \ubb34\uc5ed \ubc0f \ud22c\uc790 \ud65c\ub3d9\uacfc \uad00\ub828\ub41c \uc678\ud658 \uac70\ub798\ub97c \uc218\ud589\ud569\ub2c8\ub2e4. \ud574\uc678 \uc790\ud68c\uc0ac\uc640\uc758 \uc790\uae08 \uc774\uccb4, \uc218\ucd9c\uc785 \ub300\uae08 \uacb0\uc81c, \ud574\uc678 \ud22c\uc790 \uc218\uc775 \uc1a1\ud658 \ub4f1 \ub2e4\uc591\ud55c \ubaa9\uc801\uc73c\ub85c \uc678\ud658 \uc2dc\uc7a5\uc744 \uc774\uc6a9\ud558\uba70, \ud658\uc728 \ubcc0\ub3d9 \uc704\ud5d8\uc744 \uad00\ub9ac\ud558\uae30 \uc704\ud574 \ud5e4\uc9d5 \uc804\ub7b5\uc744 \uc0ac\uc6a9\ud569\ub2c8\ub2e4.<\/p>\n<p>*   \uac1c\uc778 \ud22c\uc790\uc790(\ub9ac\ud14c\uc77c \ud2b8\ub808\uc774\ub354): \uc628\ub77c\uc778 \ube0c\ub85c\ucee4\ub97c \ud1b5\ud574 \uc678\ud658 \uc2dc\uc7a5\uc5d0 \ucc38\uc5ec\ud558\ub294 \uac1c\uc778 \ud22c\uc790\uc790\ub4e4\uc785\ub2c8\ub2e4. \uc18c\uc561\uc73c\ub85c\ub3c4 \ub808\ubc84\ub9ac\uc9c0\ub97c \ud65c\uc6a9\ud558\uc5ec \uac70\ub798\ud560 \uc218 \uc788\uc73c\uba70, \uc8fc\ub85c \ub2e8\uae30\uc801\uc778 \uac00\uaca9 \ubcc0\ub3d9\uc744 \uc774\uc6a9\ud55c \ud22c\uae30\uc801 \uac70\ub798\ub97c \ud569\ub2c8\ub2e4. \uae30\uc220 \ubc1c\uc804\uacfc \uc811\uadfc\uc131 \ud5a5\uc0c1\uc73c\ub85c \uadf8 \uc218\uac00 \uafb8\uc900\ud788 \uc99d\uac00\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p># 6. \uacb0\ub860 \ubc0f \uc804\ub9dd<\/p>\n<p>\uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc740 \uae30\uc220 \ud601\uc2e0, \uaddc\uc81c \ubcc0\ud654, \uadf8\ub9ac\uace0 \uac70\uc2dc \uacbd\uc81c\uc801 \uc694\uc778\uc5d0 \uc758\ud574 \ub04a\uc784\uc5c6\uc774 \uc9c4\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ub514\uc9c0\ud138\ud654\uc640 \uc790\ub3d9\ud654\ub294 \uac70\ub798 \ud6a8\uc728\uc131\uc744 \ub192\uc774\uace0 \ube44\uc6a9\uc744 \uc808\uac10\ud558\uba70, \uc0c8\ub85c\uc6b4 \uc2dc\uc7a5 \ucc38\uc5ec\uc790\ub4e4\uc758 \uc9c4\uc785\uc744 \uc6a9\uc774\ud558\uac8c \ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788, API \uae30\ubc18\uc758 \uc5f0\uacb0\uc131, \ud074\ub77c\uc6b0\ub4dc \ucef4\ud4e8\ud305, \uadf8\ub9ac\uace0 \uc778\uacf5\uc9c0\ub2a5(AI) \ubc0f \uba38\uc2e0\ub7ec\ub2dd(ML)\uc758 \ub3c4\uc785\uc740 \uc2dc\uc7a5 \ubd84\uc11d, \ub9ac\uc2a4\ud06c \uad00\ub9ac, \uadf8\ub9ac\uace0 \uac70\ub798 \uc2e4\ud589 \ubc29\uc2dd\uc5d0 \ud601\uba85\uc801\uc778 \ubcc0\ud654\ub97c \uac00\uc838\uc624\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc55e\uc73c\ub85c \uc678\ud658 \uc2dc\uc7a5\uc740 \ub354\uc6b1 \ud22c\uba85\ud558\uace0 \ud6a8\uc728\uc801\uc774\uba70, \uc811\uadfc\uc131\uc774 \ub192\uc740 \ubc29\ud5a5\uc73c\ub85c \ubc1c\uc804\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc911\uc559\uc740\ud589 \ub514\uc9c0\ud138 \ud1b5\ud654(CBDC)\uc758 \ub3c4\uc785 \ub17c\uc758\uc640 \ube14\ub85d\uccb4\uc778 \uae30\uc220\uc758 \uc7a0\uc7ac\ub825\uc740 \ubbf8\ub798 \uc678\ud658 \uac70\ub798\uc758 \ubaa8\uc2b5\uc744 \uadfc\ubcf8\uc801\uc73c\ub85c \ubc14\uafc0 \uc218 \uc788\ub294 \uc911\uc694\ud55c \ubcc0\uc218\uac00 \ub420 \uac83\uc785\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \ub3d9\uc2dc\uc5d0 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8 \uc99d\uac00, \uaddc\uc81c \ubcf5\uc7a1\uc131 \uc2ec\ud654, \uadf8\ub9ac\uace0 \uc2dc\uc7a5 \ubcc0\ub3d9\uc131 \ud655\ub300\uc640 \uac19\uc740 \ub3c4\uc804 \uacfc\uc81c\ub4e4\ub3c4 \ud568\uaed8 \uc9c1\uba74\ud558\uac8c \ub420 \uac83\uc785\ub2c8\ub2e4. \uc774\ub7ec\ud55c \ubcc0\ud654\uc5d0 \ub300\ud55c \uc9c0\uc18d\uc801\uc778 \uc801\uc751\uacfc \ud601\uc2e0\ub9cc\uc774 \uae00\ub85c\ubc8c \uc678\ud658 \uc2dc\uc7a5\uc758 \uc9c0\uc18d\uc801\uc778 \uc131\uc7a5\uc744 \uac00\ub2a5\ud558\uac8c \ud560 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 \uae00\ub85c\ubc8c \uc678\ud658(FX) \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc2ec\uce35 \ubd84\uc11d\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \uc5f0\uad6c \uac00\uc815 \ubc0f \uc2dc\uc7a5 \uc815\uc758, \uc5f0\uad6c \ubc94\uc704, \uc5f0\uad6c \ubc29\ubc95\ub860, \uadf8\ub9ac\uace0 \ud575\uc2ec \uc694\uc57d\uc744 \ud3ec\ud568\ud569\ub2c8\ub2e4. \uc678\ud658 \uc2dc\uc7a5\uc740 \ud2b9\uc815 \uc678\ud658 \ud658\uc728\ub85c \ud55c \ud1b5\ud654\ub97c \ub2e4\ub978 \ud1b5\ud654\ub85c \uad50\ud658\ud558\ub294 \uc2dc\uc7a5\uc73c\ub85c, \uae08\uc735 \uc911\uac1c\uc778, \ud2b8\ub808\uc774\ub354, \uc740\ud589 \ubc0f \ub2e4\uc591\ud55c \uae08\uc735 \uae30\uad00\uc744 \ud3ec\ud568\ud558\ub294 \uc804\uc790 \ub124\ud2b8\uc6cc\ud06c\ub97c \ud1b5\ud574 \uac70\ub798\uac00 \uc774\ub8e8\uc5b4\uc9d1\ub2c8\ub2e4.<\/p>\n<p>\uc2dc\uc7a5 \ud658\uacbd \ubd84\uc11d\uc5d0\uc11c\ub294 \uc2dc\uc7a5 \uac1c\uc694, \uc8fc\uc694 \ub3d9\uc778 \ubc0f \uc81c\uc57d \uc694\uc778\uc744 \ub2e4\ub8f9\ub2c8\ub2e4. \uc8fc\uc694 \uc2dc\uc7a5 \ub3d9\uc778\uc73c\ub85c\ub294 \uad6d\uacbd \uac04 \uc804\uc790\uc0c1\uac70\ub798 \uac70\ub798\uc758 \uc131\uc7a5, \uad00\uad11 \ubc0f \uc774\uc8fc\uc790 \uc1a1\uae08\uc758 \uae09\uc99d, \uc8fc\uc694 \ud1b5\ud654 \uc30d\uc758 \ub192\uc740 \uc720\ub3d9\uc131, \uc804\uc790 \uac70\ub798 \ud50c\ub7ab\ud3fc\uc758 \ud655\uc7a5, 24\uc2dc\uac04 \uc5f0\uc911\ubb34\ud734 FX \uacb0\uc81c\ub97c \uac00\ub2a5\ud558\uac8c \ud558\ub294 \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c, \uadf8\ub9ac\uace0 \uc2a4\ud504\ub808\ub4dc\ub97c \uc555\ucd95\ud558\ub294 AI \uae30\ubc18 \uc801\uc751\ud615 \uc54c\uace0\ub9ac\uc998 \ub4f1\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ubc18\uba74, \uc8fc\uc694 \uc81c\uc57d \uc694\uc778\uc73c\ub85c\ub294 \uc0c1\ub300\ubc29 \ubc0f \uacb0\uc81c \uc2e4\ud328 \uc704\ud5d8 \uc99d\uac00, \uace0\ube48\ub3c4 \uac70\ub798\uc5d0 \ub300\ud55c \uaddc\uc81c \uac15\ud654, \uc9c0\uc815\ud559\uc801 \uc81c\uc7ac\ub85c \uc778\ud55c \uc720\ub3d9\uc131 \ud480\uc758 \ubd84\uc5f4, FX \uc778\ud504\ub77c \ub0b4 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uce68\ud574 \ube44\uc6a9 \uc0c1\uc2b9 \ub4f1\uc774 \uc81c\uc2dc\ub429\ub2c8\ub2e4. \ub610\ud55c, \uac00\uce58\/\uacf5\uae09\ub9dd \ubd84\uc11d, \uaddc\uc81c \ud658\uacbd, \uae30\uc220 \uc804\ub9dd, \uadf8\ub9ac\uace0 \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778 \ubd84\uc11d(\uad6c\ub9e4\uc790 \ubc0f \uacf5\uae09\uc790\uc758 \uad50\uc12d\ub825, \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611, \ub300\uccb4\uc7ac\uc758 \uc704\ud611, \uacbd\uc7c1 \uac15\ub3c4)\ub3c4 \ud3ec\ud568\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc131\uc7a5 \uc608\uce21(\uac00\uce58 \uae30\uc900)\uc740 \ub2e4\uc591\ud55c \uc138\uadf8\uba3c\ud2b8\ubcc4\ub85c \uc81c\uacf5\ub429\ub2c8\ub2e4. \uc678\ud658 \uc2dc\uc7a5 \uaddc\ubaa8\ub294 2026\ub144 0.94\uc870 \ub2ec\ub7ec\uc5d0 \ub3c4\ub2ec\ud588\uc73c\uba70, 2031\ub144\uc5d0\ub294 1.22\uc870 \ub2ec\ub7ec\uc5d0 \uc774\ub97c \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4. \uc0c1\ud488 \uc720\ud615\ubcc4\ub85c\ub294 \ud604\ubb3c \uc678\ud658, \uc678\ud658 \uc2a4\uc651, \uc120\ubb3c\ud658, \ud1b5\ud654 \uc2a4\uc651, \uc678\ud658 \uc635\uc158, \uae30\ud0c0 \uc7a5\uc678 \ud30c\uc0dd\uc0c1\ud488\uc73c\ub85c \uad6c\ubd84\ub418\uba70, \uc774 \uc911 \uc678\ud658 \uc2a4\uc651\uc774 2025\ub144 \uc2dc\uc7a5 \uc810\uc720\uc728 47.35%\ub85c \uc9c0\ubc30\uc801\uc778 \uc704\uce58\ub97c \ucc28\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc0c1\ub300\ubc29\ubcc4\ub85c\ub294 \ubcf4\uace0 \ub51c\ub7ec, \uae30\ud0c0 \uae08\uc735 \uae30\uad00, \ube44\uae08\uc735 \uace0\uac1d\uc73c\ub85c, \ucc44\ub110\ubcc4\ub85c\ub294 \uc628\ub77c\uc778 \ubc0f \uc624\ud504\ub77c\uc778\uc73c\ub85c \ubd84\ub958\ub429\ub2c8\ub2e4. \uc9c0\uc5ed\ubcc4\ub85c\ub294 \ubd81\ubbf8, \ub0a8\ubbf8, \uc720\ub7fd, \uc544\uc2dc\uc544-\ud0dc\ud3c9\uc591, \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74\ub85c \ub098\ub258\uba70, \uc544\uc2dc\uc544-\ud0dc\ud3c9\uc591 \uc9c0\uc5ed\uc740 \uc804\uc790 \uac70\ub798 \ucc44\ud0dd \ubc0f \uacb0\uc81c \uc2dc\uc2a4\ud15c \ud604\ub300\ud654\uc5d0 \ud798\uc785\uc5b4 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 7.71%\uc758 \uac00\uc7a5 \ube60\ub978 \uc131\uc7a5\ub960\uc744 \ubcf4\uc77c \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<\/p>\n<p>\ubcf4\uace0\uc11c\ub294 \ub610\ud55c \uc8fc\uc694 \uc2dc\uc7a5 \ub3d9\ud5a5\uc5d0 \ub300\ud55c \ub2f5\ubcc0\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \uc815\ucc45 \ucc28\uc774\uc640 \uc9c0\uc815\ud559\uc801 \ubd88\ud655\uc2e4\uc131 \uc99d\uac00\ub294 \uae30\uc5c5 \ubc0f \uae30\uad00\uc758 \ud558\ubc29 \ubcf4\ud638 \uc218\uc694\ub97c \ucd09\uc9c4\ud558\uc5ec \uc678\ud658 \uc635\uc158 \uac70\ub798\ub7c9\uc744 \uc99d\uac00\uc2dc\ud0a4\uace0 \uc788\uc73c\uba70, \uc608\uce21 \uae30\uac04 \ub3d9\uc548 \uc5f0\ud3c9\uade0 8.33%\uc758 \uc131\uc7a5\ub960\uc744 \uae30\ub85d\ud560 \uac83\uc73c\ub85c \ubcf4\uc785\ub2c8\ub2e4. \uc989\uc2dc \uacb0\uc81c \uae30\uc220\uc740 24\uc2dc\uac04 \uc5f0\uc911\ubb34\ud734 \uacb0\uc81c \uc2dc\uc2a4\ud15c\uc744 \ud1b5\ud574 \uc0c1\ub300\ubc29 \uc704\ud5d8\uc744 \uc904\uc774\uace0 \ub2f4\ubcf4\ub97c \ud655\ubcf4\ud558\uc5ec \uc77c\uc911 \uac70\ub798 \ube48\ub3c4\ub97c \ub192\uc774\uace0 \uc2dc\uc7a5 \ucc38\uc5ec\ub97c \ud655\ub300\ud558\ub294 \ud6a8\uacfc\ub97c \uac00\uc838\uc635\ub2c8\ub2e4. \ud55c\ud3b8, EU MiFIR \uac1c\uc815 \ubc0f \ubbf8\uad6d \uaddc\uc81c \uac15\ud654\uc640 \uac19\uc740 \uaddc\uc81c \ubcc0\ud654\ub294 \uace0\ube48\ub3c4 \uac70\ub798 \ud65c\ub3d9\uc5d0 \ub300\ud55c \ub370\uc774\ud130 \ud488\uc9c8 \ubc0f \ud22c\uba85\uc131 \uc758\ubb34\ub97c \ubd80\uacfc\ud558\uc5ec \uc9c0\uc5f0 \uc2dc\uac04 \uae30\ubc18 \uc804\ub7b5\uc758 \uaddc\uc815 \uc900\uc218 \ube44\uc6a9\uc744 \uc99d\uac00\uc2dc\ud0ac \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uacbd\uc7c1 \ud658\uacbd \ubd84\uc11d\uc5d0\uc11c\ub294 \uc2dc\uc7a5 \uc9d1\uc911\ub3c4, \uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784, \uc2dc\uc7a5 \uc810\uc720\uc728 \ubd84\uc11d\uc744 \ub2e4\ub8e8\uba70, JPMorgan Chase &#038; Co., Citigroup Inc., UBS Group AG, Deutsche Bank AG, XTX Markets Ltd. \ub4f1 \uc8fc\uc694 \uae30\uc5c5\ub4e4\uc758 \ud504\ub85c\ud544(\uae00\ub85c\ubc8c \ubc0f \uc2dc\uc7a5 \uc218\uc900 \uac1c\uc694, \ud575\uc2ec \ubd80\ubb38, \uc7ac\ubb34 \uc815\ubcf4, \uc804\ub7b5 \uc815\ubcf4, \uc2dc\uc7a5 \uc21c\uc704\/\uc810\uc720\uc728, \uc81c\ud488 \ubc0f \uc11c\ube44\uc2a4, \ucd5c\uadfc \uac1c\ubc1c \uc0ac\ud56d \ud3ec\ud568)\uc744 \uc0c1\uc138\ud788 \uc81c\uc2dc\ud569\ub2c8\ub2e4. \ub9c8\uc9c0\ub9c9\uc73c\ub85c, \ubcf4\uace0\uc11c\ub294 \uc2dc\uc7a5 \uae30\ud68c \ubc0f \ubbf8\ub798 \uc804\ub9dd, \ubbf8\uac1c\ucc99 \uc601\uc5ed \ubc0f \ucda9\uc871\ub418\uc9c0 \uc54a\uc740 \uc694\uad6c \uc0ac\ud56d\uc5d0 \ub300\ud55c \ud3c9\uac00\ub97c \ud1b5\ud574 \uc774\ud574\uad00\uacc4\uc790\ub4e4\uc5d0\uac8c \ud3ec\uad04\uc801\uc778 \ud1b5\ucc30\ub825\uc744 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