{"id":52941,"date":"2026-02-23T08:18:49","date_gmt":"2026-02-23T08:18:49","guid":{"rendered":"https:\/\/www.globalresearch.co.kr\/insight\/clearing-houses-and-settlements-market-mordor\/"},"modified":"2026-09-25T15:23:01","modified_gmt":"2026-09-25T06:23:01","slug":"clearing-houses-and-settlements-market-mordor","status":"publish","type":"post","link":"https:\/\/www.globalresearch.co.kr\/insight\/clearing-houses-and-settlements-market-mordor\/","title":{"rendered":"\uc138\uacc4\uc758 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \uaddc\ubaa8 \ubc0f \uc810\uc720\uc728 \ubd84\uc11d &#8211; \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd (2026-2031\ub144)"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.globalresearch.co.kr\/insight\/wp-content\/uploads\/2026\/02\/clearing-houses-and-settlements-market-1768369449452-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\/clearing-houses-and-settlements-market-size-image-1768365992832.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 \ub3d9\uc778\n<ul>\n<li class=\"toc-level-3\">4.1.1 \uae00\ub85c\ubc8c \uac70\ub798 \ud65c\ub3d9 \uc99d\uac00, \uc804\uc790 \ubc0f \ub300\ub7c9 \uac70\ub798 \uc99d\uac00\ub85c \ud6a8\uc728\uc801\uc778 \uccad\uc0b0 \ubc0f \uacb0\uc81c \uc778\ud504\ub77c \uc218\uc694 \uc99d\ub300<\/li>\n<li class=\"toc-level-3\">4.1.2 \uae08\uc735 \uc704\uae30 \uc774\ud6c4 \uc2dc\uc2a4\ud15c \ub9ac\uc2a4\ud06c \uac10\uc18c \ubc0f \uc2dc\uc7a5 \ud22c\uba85\uc131 \uac15\ud654\ub97c \ubaa9\ud45c\ub85c \ud55c \uac1c\ud601\uc5d0 \ub530\ub978 \uc911\uc559 \uccad\uc0b0\uc5d0 \ub300\ud55c \uaddc\uc81c \uac15\uc870<\/li>\n<li class=\"toc-level-3\">4.1.3 AI, \ube14\ub85d\uccb4\uc778, \uc790\ub3d9\ud654\ub97c \ud3ec\ud568\ud55c \uccad\uc0b0 \uae30\uc220 \ubc1c\uc804\uc73c\ub85c \ucc98\ub9ac \uc18d\ub3c4, \uc815\ud655\uc131 \ubc0f \uc6b4\uc601 \ud6a8\uc728\uc131 \ud5a5\uc0c1<\/li>\n<li class=\"toc-level-3\">4.1.4 \uad6d\uacbd \uac04 \ubc0f \ud30c\uc0dd\uc0c1\ud488 \uac70\ub798 \uc99d\uac00\ub85c \uc5ec\ub7ec \uad00\ud560 \uad6c\uc5ed\uc5d0 \uac78\uccd0 \uc0c1\ud638 \uc6b4\uc6a9 \uac00\ub2a5\ud558\uace0 \ud0c4\ub825\uc801\uc778 \uccad\uc0b0 \uc2dc\uc2a4\ud15c \ud544\uc694<\/li>\n<li class=\"toc-level-3\">4.1.5 \uc2dc\uc7a5 \ubcc0\ub3d9\uc131\uc73c\ub85c \uc778\ud574 \uc911\uc559 \uc9d1\uc911\uc2dd \uccad\uc0b0 \uba54\ucee4\ub2c8\uc998 \ucc44\ud0dd\uc774 \uac00\uc18d\ud654\ub428\uc5d0 \ub530\ub77c \uac70\ub798 \uc0c1\ub300\ubc29 \uc704\ud5d8 \uad00\ub9ac\uc5d0 \ub300\ud55c \uad00\uc2ec \uc99d\ub300<\/li>\n<li class=\"toc-level-3\">4.1.6 \uc804\uc790 \ubc0f \uace0\ube48\ub3c4 \uac70\ub798 \ud50c\ub7ab\ud3fc \ud655\uc7a5\uc73c\ub85c \ud655\uc7a5 \uac00\ub2a5\ud558\uace0 \uace0\uc6a9\ub7c9\uc758 \uacb0\uc81c \uc194\ub8e8\uc158 \ud544\uc694\uc131 \uc99d\ub300<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.2 \uc2dc\uc7a5 \uc81c\uc57d \uc694\uc778\n<ul>\n<li class=\"toc-level-3\">4.2.1 \ub192\uc740 \ub2f4\ubcf4 \ubc0f \uc790\ubcf8 \uc694\uad6c \uc0ac\ud56d\uc73c\ub85c \uc6b4\uc601 \ube44\uc6a9 \uc99d\uac00 \ubc0f \uc18c\uaddc\ubaa8 \uc2dc\uc7a5 \ucc38\uc5ec\uc790\uc758 \ucc38\uc5ec \uc81c\ud55c<\/li>\n<li class=\"toc-level-3\">4.2.2 \uaddc\uc81c \ubc0f \uaddc\uc815 \uc900\uc218 \ubcf5\uc7a1\uc131 \uc99d\uac00, \uc9c4\ud654\ud558\ub294 \uae00\ub85c\ubc8c \ud45c\uc900\uc73c\ub85c \uad6c\ud604 \ubc0f \ubaa8\ub2c8\ud130\ub9c1 \ubd80\ub2f4 \uc99d\ub300<\/li>\n<li class=\"toc-level-3\">4.2.3 \uace0\uac00\uce58 \uac70\ub798 \uc2dc\uc2a4\ud15c\uc744 \uc704\ud55c \ubcf4\uc548 \uc778\ud504\ub77c\uc5d0 \ub300\ud55c \uc9c0\uc18d\uc801\uc778 \ud22c\uc790\ub97c \ud544\uc694\ub85c \ud558\ub294 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8 \uc99d\uac00<\/li>\n<li class=\"toc-level-3\">4.2.4 \ub808\uac70\uc2dc \uccad\uc0b0 \uc778\ud504\ub77c\uc5d0 \ub300\ud55c \uc758\uc874\uc131\uc73c\ub85c \ud655\uc7a5\uc131 \uc81c\uc57d \ubc0f \ucc28\uc138\ub300 \uae30\uc220\uacfc\uc758 \ud1b5\ud569 \uc9c0\uc5f0<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">4.3 \uac00\uce58 \/ \uacf5\uae09\ub9dd \ubd84\uc11d<\/li>\n<li class=\"toc-level-2\">4.4 \uaddc\uc81c \ub610\ub294 \uae30\uc220 \uc804\ub9dd<\/li>\n<li class=\"toc-level-2\">4.5 \ud3ec\ud130\uc758 5\uac00\uc9c0 \uacbd\uc7c1 \uc694\uc778 \ubd84\uc11d\n<ul>\n<li class=\"toc-level-3\">4.5.1 \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.5.2 \uad6c\ub9e4\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.5.3 \uacf5\uae09\uc790\uc758 \uad50\uc12d\ub825<\/li>\n<li class=\"toc-level-3\">4.5.4 \ub300\uccb4\uc7ac\uc758 \uc704\ud611<\/li>\n<li class=\"toc-level-3\">4.5.5 \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 \uc720\ud615\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.1.1 \ub300\uc678 \uccad\uc0b0\uc18c<\/li>\n<li class=\"toc-level-3\">5.1.2 \ub300\ub0b4 \uccad\uc0b0\uc18c<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.2 \uc11c\ube44\uc2a4\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.2.1 TARGET2<\/li>\n<li class=\"toc-level-3\">5.2.2 SEPA<\/li>\n<li class=\"toc-level-3\">5.2.3 EBICS<\/li>\n<li class=\"toc-level-3\">5.2.4 \uae30\ud0c0 \uc11c\ube44\uc2a4<\/li>\n<li class=\"toc-level-4\">5.2.4.1 EURO1<\/li>\n<li class=\"toc-level-4\">5.2.4.2 CCBM<\/li>\n<\/ul>\n<\/li>\n<li class=\"toc-level-2\">5.3 \uc9c0\uc5ed\ubcc4\n<ul>\n<li class=\"toc-level-3\">5.3.1 \ubd81\ubbf8<\/li>\n<li class=\"toc-level-4\">5.3.1.1 \ubbf8\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.1.2 \uce90\ub098\ub2e4<\/li>\n<li class=\"toc-level-4\">5.3.1.3 \uba55\uc2dc\ucf54<\/li>\n<li class=\"toc-level-3\">5.3.2 \ub0a8\ubbf8<\/li>\n<li class=\"toc-level-4\">5.3.2.1 \ube0c\ub77c\uc9c8<\/li>\n<li class=\"toc-level-4\">5.3.2.2 \uc544\ub974\ud5e8\ud2f0\ub098<\/li>\n<li class=\"toc-level-4\">5.3.2.3 \uce60\ub808<\/li>\n<li class=\"toc-level-4\">5.3.2.4 \ud398\ub8e8<\/li>\n<li class=\"toc-level-4\">5.3.2.5 \ub0a8\ubbf8 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.3.3 \uc720\ub7fd<\/li>\n<li class=\"toc-level-4\">5.3.3.1 \uc601\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.3.2 \ub3c5\uc77c<\/li>\n<li class=\"toc-level-4\">5.3.3.3 \ud504\ub791\uc2a4<\/li>\n<li class=\"toc-level-4\">5.3.3.4 \uc2a4\ud398\uc778<\/li>\n<li class=\"toc-level-4\">5.3.3.5 \uc774\ud0c8\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.3.3.6 \ubca0\ub124\ub8e9\uc2a4 (\ubca8\uae30\uc5d0, \ub124\ub35c\ub780\ub4dc, \ub8e9\uc148\ubd80\ub974\ud06c)<\/li>\n<li class=\"toc-level-4\">5.3.3.7 \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\">5.3.3.8 \uc720\ub7fd \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.3.4 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591<\/li>\n<li class=\"toc-level-4\">5.3.4.1 \uc911\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.4.2 \uc778\ub3c4<\/li>\n<li class=\"toc-level-4\">5.3.4.3 \uc77c\ubcf8<\/li>\n<li class=\"toc-level-4\">5.3.4.4 \ub300\ud55c\ubbfc\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.4.5 \ud638\uc8fc<\/li>\n<li class=\"toc-level-4\">5.3.4.6 \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\">5.3.4.7 \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uae30\ud0c0 \uc9c0\uc5ed<\/li>\n<li class=\"toc-level-3\">5.3.5 \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74<\/li>\n<li class=\"toc-level-4\">5.3.5.1 \uc544\ub78d\uc5d0\ubbf8\ub9ac\ud2b8<\/li>\n<li class=\"toc-level-4\">5.3.5.2 \uc0ac\uc6b0\ub514\uc544\ub77c\ube44\uc544<\/li>\n<li class=\"toc-level-4\">5.3.5.3 \ub0a8\uc544\ud504\ub9ac\uce74 \uacf5\ud654\uad6d<\/li>\n<li class=\"toc-level-4\">5.3.5.4 \ub098\uc774\uc9c0\ub9ac\uc544<\/li>\n<li class=\"toc-level-4\">5.3.5.5 \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 \uac1c\uc694, \uc2dc\uc7a5 \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 &amp; \uc11c\ube44\uc2a4, \ucd5c\uadfc \uac1c\ubc1c \ud3ec\ud568)}\n<ul>\n<li class=\"toc-level-3\">6.4.1 Intact Financial Corporation<\/li>\n<li class=\"toc-level-3\">6.4.2 Apex Clearing Corporation<\/li>\n<li class=\"toc-level-3\">6.4.3 Bank of America Merrill Lynch<\/li>\n<li class=\"toc-level-3\">6.4.4 FOLIOfn, Inc. (Folio Financial Investments)<\/li>\n<li class=\"toc-level-3\">6.4.5 Goldman Sachs Execution and Clearing LP<\/li>\n<li class=\"toc-level-3\">6.4.6 J.P. Morgan Clearing Corp<\/li>\n<li class=\"toc-level-3\">6.4.7 National Financial Services LLC<\/li>\n<li class=\"toc-level-3\">6.4.8 Pershing LLC<\/li>\n<li class=\"toc-level-3\">6.4.9 RBC Correspondent Services (Royal Bank of Canada)<\/li>\n<li class=\"toc-level-3\">6.4.10 StoneX Group Inc.<\/li>\n<li class=\"toc-level-3\">6.4.11 Southwest Securities Inc.<\/li>\n<li class=\"toc-level-3\">6.4.12 Depository Trust &amp; Clearing Corporation (DTCC)<\/li>\n<li class=\"toc-level-3\">6.4.13 LCH Limited (London Stock Exchange Group \/ LSEG)<\/li>\n<li class=\"toc-level-3\">6.4.14 Euroclear Group<\/li>\n<li class=\"toc-level-3\">6.4.15 Clearstream (Deutsche Borse Group)<\/li>\n<li class=\"toc-level-3\">6.4.16 SIX x-clear &amp; SIX SIS (SIX Group)<\/li>\n<li class=\"toc-level-3\">6.4.17 CME Clearing (CME Group)<\/li>\n<li class=\"toc-level-3\">6.4.18 ICE Clear (Intercontinental Exchange)<\/li>\n<li class=\"toc-level-3\">6.4.19 \uc678\ubd80 \uccad\uc0b0\uc18c<\/li>\n<li class=\"toc-level-3\">6.4.20 BNY Mellon<\/li>\n<li class=\"toc-level-3\">6.4.21 Japan Securities Clearing Corporation (JSCC)<\/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 &amp; \ubbf8\ub798 \uc804\ub9dd<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \uac1c\uc694: 2031\ub144\uae4c\uc9c0\uc758 \uc131\uc7a5 \ub3d9\ud5a5 \ubc0f \uc804\ub9dd<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 2026\ub144\ubd80\ud130 2031\ub144\uae4c\uc9c0\uc758 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc2ec\uce35 \ubd84\uc11d\uc744 \uc81c\uacf5\ud558\uba70, \uc2dc\uc7a5 \uaddc\ubaa8, \uc131\uc7a5 \ub3d9\uc778, \uc81c\uc57d \uc694\uc778, \uc138\uadf8\uba3c\ud2b8\ubcc4 \ubc0f \uc9c0\uc5ed\ubcc4 \ubd84\uc11d, \uacbd\uc7c1 \ud658\uacbd \ubc0f \uc8fc\uc694 \uc0b0\uc5c5 \ub3d9\ud5a5\uc744 \ub2e4\ub8f9\ub2c8\ub2e4.<\/p>\n<p>1. \uc2dc\uc7a5 \uac1c\uc694 \ubc0f \uc804\ub9dd<\/p>\n<p>\uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc740 2026\ub144 131\uc5b5 3\ucc9c\ub9cc \ub2ec\ub7ec\uc5d0\uc11c 2031\ub144 168\uc5b5 1\ucc9c\ub9cc \ub2ec\ub7ec \uaddc\ubaa8\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, \uc608\uce21 \uae30\uac04 \ub3d9\uc548 \uc5f0\ud3c9\uade0 \uc131\uc7a5\ub960(CAGR)\uc740 5.07%\uc5d0 \ub2ec\ud560 \uac83\uc785\ub2c8\ub2e4. 2026\ub144 \ud604\uc7ac, \uc804\uc790 \uac70\ub798 \ubc0f \uace0\ube48\ub3c4 \uac70\ub798 \ud65c\ub3d9\uc758 \uc99d\uac00\ub294 \uac70\ub798 \ud6c4 \uacbd\ub85c \uc804\ubc18\uc5d0 \uac78\uccd0 \ucc98\ub9ac\ub7c9 \uc694\uad6c\uc0ac\ud56d\uc744 \ub192\uc774\uace0 \uc6b4\uc601 \ud5c8\uc6a9 \uc624\ucc28\ub97c \uac15\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \uc720\ub7fd\uc758 TARGET \uc11c\ube44\uc2a4\ub294 2024\ub144\uc5d0 \uac70\ub798\ub7c9\uc774 \ud06c\uac8c \uc99d\uac00\ud558\uc5ec \ud604\uc7ac \uae30\uac04\uc758 \uc6a9\ub7c9 \uc5c5\uadf8\ub808\uc774\ub4dc \ubc0f \ubcf5\uc6d0\ub825 \ud504\ub85c\uadf8\ub7a8\uc73c\ub85c \uc774\uc5b4\uc84c\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c(Outward Clearing House)\ub294 \ub2e4\uc790\uac04 \uc0c1\uacc4(multilateral netting)\ub97c \ud1b5\ud574 \uad6d\uacbd \uac04 \ud750\ub984\uc744 \ud761\uc218\ud558\uba70 \uc2dc\uc7a5\uc744 \uc120\ub3c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \uc911\uc559 \uccad\uc0b0 \uc758\ubb34\ud654 \uae30\ud55c\uc774 \ub2e4\uac00\uc634\uc5d0 \ub530\ub77c \ub300\uaddc\ubaa8 \uc77c\uc77c \ud604\uae08 \ubc0f \ub808\ud3ec(repo) \uac70\ub798\ub7c9\uc774 \uc911\uc559 \uac70\ub798\uc0c1\ub300\ubc29(CCP)\uc73c\ub85c \uc720\uc785\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uc5b4 \uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c\ub294 \ub354\uc6b1 \ud070 \ud61c\ud0dd\uc744 \ubcfc \uac83\uc785\ub2c8\ub2e4. TARGET2\ub294 \uc720\ub85c\ud654 \ub300\uaddc\ubaa8 \uacb0\uc81c\uc758 \ud575\uc2ec \uc5ed\ud560\uc744 \uc720\uc9c0\ud558\uace0 \uc788\uc73c\uba70, TIPS\ub294 \uc989\uc2dc \uacb0\uc81c \ucc44\ud0dd\uc744 \uac00\uc18d\ud654\ud558\uc5ec 2026\ub144 \ub300\uaddc\ubaa8 \uc2e4\uc2dc\uac04 \ucc98\ub9ac\uc758 \ud45c\uc900\uc744 \uc81c\uc2dc\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc9c0\uc5ed\ubcc4\ub85c\ub294 \ubd81\ubbf8\uac00 2025\ub144 \uac00\uc7a5 \ud070 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud558\uace0 \uc788\uc73c\ub098, \uc720\ub7fd\uc740 ISO 20022 \ubc0f \uc720\ub85c\uc2dc\uc2a4\ud15c\uc758 \ud1b5\ud569 \ud50c\ub7ab\ud3fc \ud558\uc5d0\uc11c \uc989\uc2dc \uacb0\uc81c\uac00 \uc218\ub834\ub428\uc5d0 \ub530\ub77c \uac00\uc7a5 \ube60\ub978 \uc131\uc7a5\uc744 \ubcf4\uc77c \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\uc694 \ubcf4\uace0\uc11c \uc694\uc57d:<br \/>\n*   \uc720\ud615\ubcc4: \uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c\ub294 2025\ub144 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \ub9e4\ucd9c\uc758 67.50%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, 2031\ub144\uae4c\uc9c0 5.82%\uc758 CAGR\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uc11c\ube44\uc2a4\ubcc4: TARGET2\ub294 2025\ub144 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \uc11c\ube44\uc2a4 \uc810\uc720\uc728\uc758 43.80%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, 2031\ub144\uae4c\uc9c0 7.43%\uc758 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<br \/>\n*   \uc9c0\uc5ed\ubcc4: \ubd81\ubbf8\ub294 2025\ub144 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \uaddc\ubaa8\uc758 34.65%\ub97c \ucc28\uc9c0\ud588\uc73c\uba70, \uc720\ub7fd\uc740 2031\ub144\uae4c\uc9c0 6.65%\uc758 \uac00\uc7a5 \ub192\uc740 \uc608\uc0c1 CAGR\uc744 \uae30\ub85d\ud560 \uac83\uc785\ub2c8\ub2e4.<br \/>\n*   \uc2dc\uc7a5 \uc9d1\uc911\ub3c4: \ubbf8\uad6d CCP\uc5d0\uc11c \uc18c\uc218\uc758 \uc120\ub3c4\uc801\uc778 \uccad\uc0b0 \ud68c\uc6d0\uc0ac\uac00 \ub300\ubd80\ubd84\uc758 \uace0\uac1d \ud65c\ub3d9\uc744 \ucc98\ub9ac\ud558\uc9c0\ub9cc, \uc9c0\uc5ed \uc778\ud504\ub77c \ubc0f \uc2e0\uaddc \uc9c4\uc785\uc790\uc758 \uc874\uc7ac\ub85c \uc778\ud574 \uae00\ub85c\ubc8c \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc758 \uc9d1\uc911\ub3c4\ub294 \uc911\uac04 \uc218\uc900\uc744 \uc720\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>2. \uae00\ub85c\ubc8c \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5 \ub3d9\ud5a5 \ubc0f \ud1b5\ucc30<\/p>\n<p>2.1. \uc131\uc7a5 \ub3d9\uc778<br \/>\n*   \uae00\ub85c\ubc8c \uac70\ub798 \ud65c\ub3d9 \uc99d\uac00: \uc804\uc790 \ucc44\ub110 \ubc0f \uc54c\uace0\ub9ac\uc998 \uac70\ub798\ub294 \uc77c\uc77c \uac70\ub798\ub7c9\uc744 \uc99d\ud3ed\uc2dc\ucf1c \uccad\uc0b0 \uc6b4\uc601\uc790\ub4e4\uc774 \uc6a9\ub7c9\uc744 \ud655\uc7a5\ud558\uac70\ub098 \ubcd1\ubaa9 \ud604\uc0c1\uc5d0 \uc9c1\uba74\ud558\ub3c4\ub85d \uc555\ubc15\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. TARGET \uc11c\ube44\uc2a4\ub294 2024\ub144\uc5d0 16\uc5b5 6\ucc9c\ub9cc \uac74 \uc774\uc0c1\uc758 \uac70\ub798\ub97c \ucc98\ub9ac\ud558\uba70 201.8%\uc758 \uac70\ub798\ub7c9 \uae09\uc99d\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. TARGET2-Securities\ub294 2024\ub144\uc5d0 2\uc5b5 260\ub9cc \uac74\uc758 \uc99d\uad8c \uac70\ub798(292\uc870 7\ucc9c\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8)\ub97c \uacb0\uc81c\ud558\uba70 \uad6d\uacbd \uac04 \uacb0\uc81c\ub97c \uc704\ud55c \uc911\uc559 \uc9d1\uc911\uc2dd \ud50c\ub7ab\ud3fc\uc73c\ub85c\uc758 \uc804\ud658\uc744 \uac15\ud654\ud588\uc2b5\ub2c8\ub2e4. \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \uccad\uc0b0 \uc758\ubb34\ud654\ub294 2027\ub144 \uc911\ubc18\uae4c\uc9c0 \uc77c\uc77c \ucd5c\ub300 4\uc870 \ub2ec\ub7ec\uc758 \uac70\ub798\ub97c \uc911\uc559 \uccad\uc0b0\uc73c\ub85c \uc720\ub3c4\ud560 \uac83\uc785\ub2c8\ub2e4. \uc77c\ubcf8\uc99d\uad8c\uccad\uc0b0\uacb0\uc81c(JSCC)\uc640 \ud55c\uad6d\uac70\ub798\uc18c(KRX) \ub610\ud55c \ud30c\uc0dd\uc0c1\ud488 \uccad\uc0b0\uc5d0\uc11c \uac15\ub825\ud55c \uc131\uc7a5\uc744 \ubcf4\uc774\uace0 \uc788\uc73c\uba70, FedNow \uc11c\ube44\uc2a4\ub294 2025\ub144 3\ubd84\uae30\uc5d0 250\ub9cc \uac74\uc758 \ubd84\uae30\ubcc4 \uac70\ub798(3,073\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8)\ub97c \ubcf4\uace0\ud558\uba70 \uc2e4\uc2dc\uac04 \uacb0\uc81c \ucd94\uc138\ub97c \ubcf4\uc5ec\uc8fc\uace0 \uc788\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc911\uc559 \uccad\uc0b0\uc5d0 \ub300\ud55c \uaddc\uc81c \uac15\uc870: 2023\ub144 \ubbf8\uad6d\uc5d0\uc11c \ucd5c\uc885 \ud655\uc815\ub41c \uaddc\uc815\uc740 \ud604\uae08 \uad6d\ucc44 \ubc0f \ub808\ud3ec \uac70\ub798\uc5d0 \uc911\uc559 \uccad\uc0b0\uc744 \ud655\ub300\ud558\uba70, 2026\ub144 12\uc6d4 31\uc77c\uacfc 2027\ub144 6\uc6d4 30\uc77c\uc744 \uc900\uc218 \uae30\ud55c\uc73c\ub85c \uc124\uc815\ud558\uc5ec \ud22c\uba85\uc131\uacfc \ucd1d \ub9c8\uc9c4 \uaddc\uc728\uc744 \ub192\uc600\uc2b5\ub2c8\ub2e4. 2024\ub144 4\ubd84\uae30 \uae30\uc900 \ub51c\ub7ec \ub808\ud3ec\uc758 37%\ub9cc\uc774 \uc911\uc559 \uccad\uc0b0\ub418\uc5c8\uc73c\uba70, 2\uc870 4\ucc9c\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \uc591\uc790 \uac04 \uac70\ub798\uac00 \uccad\uc0b0\uc774 \ud574\uacb0\ud558\uace0\uc790 \ud558\ub294 \uacb0\uc81c \ub9c8\ucc30\uc5d0 \ub178\ucd9c\ub418\uc5b4 \uc788\uc2b5\ub2c8\ub2e4. EMIR REFIT\uc740 \ubcf4\uace0 \uc138\ubd84\ud654\ub97c 204\uac1c \ud544\ub4dc\ub85c \ud655\ub300\ud588\uc73c\uba70, \uc720\ub7fd CDS \uc2dc\uc7a5\uc740 2023\ub144\uae4c\uc9c0 \ub192\uc740 \uccad\uc0b0 \uce68\ud22c\uc728\uc744 \ub2ec\uc131\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uccad\uc0b0 \uae30\uc220 \ubc1c\uc804: \ud1a0\ud070\ud654 \uc2dc\ud5d8, AI \uae30\ubc18 \uc704\ud5d8 \ubaa8\ub378 \ubc0f \uc790\ub3d9\ud654\ub294 \ucc98\ub9ac \ud488\uc9c8\uacfc \uc2dc\uac04\uc744 \uc7ac\ud3b8\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc720\ub85c\uc2dc\uc2a4\ud15c\uc740 9\uac1c\uad6d\uc5d0\uc11c 27\uac74\uc758 DLT(\ubd84\uc0b0\uc6d0\uc7a5\uae30\uc220) \uc2dc\ud5d8\uc744 \uc218\ud589\ud558\uc5ec 18\uc5b5 8\ucc9c\ub9cc \ub2ec\ub7ec(16\uc5b5 \uc720\ub85c) \uc0c1\ub2f9\uc758 \ud1a0\ud070\ud654\ub41c \ub3c4\ub9e4 \uac70\ub798\ub97c \uacb0\uc81c\ud558\uba70 \uc0c1\ud638 \uc6b4\uc6a9 \uac00\ub2a5\ud55c DLT \uc544\ud0a4\ud14d\ucc98\uc758 \uc2e4\ud604 \uac00\ub2a5\uc131\uc744 \uc785\uc99d\ud588\uc2b5\ub2c8\ub2e4. Clearstream\uc740 \uc9c0\ub9ac\uc801\uc73c\ub85c \ubd84\ub9ac\ub41c \ub370\uc774\ud130 \uc13c\ud130 \uac04 \uc2e4\uc2dc\uac04 \ub370\uc774\ud130 \ubbf8\ub7ec\ub9c1\uc744 \ud1b5\ud574 2\uc2dc\uac04 \ubcf5\uad6c\ub97c \uac80\uc99d\ud588\uc2b5\ub2c8\ub2e4. EBA CLEARING\uc758 RT1\uc740 \ub9e4\uc77c \uc218\ubc31\ub9cc \uac74\uc758 \uc989\uc2dc \uacb0\uc81c\ub97c \ucc98\ub9ac\ud558\uba70 \ub0ae\uc740 \uac70\ubd80\uc728\uacfc \ucd08\ub2f9 1,000\uac74 \uc774\uc0c1\uc758 \ud53c\ud06c \uc2dc\uac04 \ucc98\ub9ac\ub7c9\uc744 \uc720\uc9c0\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ube0c\ub77c\uc9c8\uc758 PIX\ub294 2024\ub144 \ub9d0\uae4c\uc9c0 1\uc5b5 5,600\ub9cc \uba85\uc758 \uac1c\uc778\uacfc 1,520\ub9cc \uac1c\uc758 \uc870\uc9c1\uc73c\ub85c \ud655\uc7a5\ub418\uc5b4 \ud45c\uc900\ud654\ub41c API\ub97c \ud1b5\ud574 \uc6d4 64\uc5b5 \uac74\uc758 \uac70\ub798\ub97c \ucc98\ub9ac\ud569\ub2c8\ub2e4.<br \/>\n*   \uad6d\uacbd \uac04 \ubc0f \ud30c\uc0dd\uc0c1\ud488 \uac70\ub798 \uc99d\uac00: 2024\ub144 \uae00\ub85c\ubc8c \uad6d\uacbd \uac04 \uacb0\uc81c \uac00\uce58\ub294 190\uc870 \ub2ec\ub7ec\ub97c \ucd08\uacfc\ud558\uc9c0\ub9cc, \uc5ec\uc804\ud788 4\ubd84\uc758 1\uc758 \ud1b5\ub85c\uc5d0\uc11c 3% \uc774\uc0c1\uc758 \ube44\uc6a9\uc774 \ubd80\uacfc\ub418\uc5b4 2026\ub144\uc5d0\ub294 \ud45c\uc900\ud654\ub41c \uba54\uc2dc\uc9d5, \uc0c1\ud638 \uc6b4\uc6a9\uc131 \ubc0f \uc0c1\uacc4 \ud6a8\uc728\uc131\uc5d0 \ub300\ud55c \uc218\uc694\uac00 \uac00\uc18d\ud654\ub420 \uac83\uc785\ub2c8\ub2e4. \uc720\ub85c\uc2dc\uc2a4\ud15c\uc758 TIPS\ub97c \ud1b5\ud55c \uc989\uc2dc \uacb0\uc81c\ub294 2024\ub144\uc5d0 402.2% \uc99d\uac00\ud55c 13\uc5b5 5\ucc9c\ub9cc \uac74\uc758 \uac70\ub798\ub97c \uae30\ub85d\ud558\uba70, \uc774 \uc9c0\uc5ed \ub0b4 \uad6d\uacbd\uc744 \ub118\ub294 \uc18c\ub9e4 \ubc0f \uae30\uc5c5 \ud750\ub984\uc5d0 \ub300\ud55c \uc2e4\uc2dc\uac04 \ubaa8\ub378\uc744 \uc785\uc99d\ud588\uc2b5\ub2c8\ub2e4. \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uc9c0\uc5ed\uc758 \uccad\uc0b0 \uc2ec\ud654\ub294 \uc77c\ubcf8 JSCC\uc758 \uc2a4\uc651 \uccad\uc0b0 \ubc1c\uc804\uacfc \ud55c\uad6d\uc758 OTC \uccad\uc0b0 \uc794\uc561 2\uc870 \ub2ec\ub7ec \ucd08\uacfc\uc5d0\uc11c \ub098\ud0c0\ub0a9\ub2c8\ub2e4.<\/p>\n<p>2.2. \uc81c\uc57d \uc694\uc778<br \/>\n*   \ub192\uc740 \ub2f4\ubcf4 \ubc0f \uc790\ubcf8 \uc694\uac74: \ubbf8\uad6d \uc815\ubd80 \uc99d\uad8c\uc5d0 \ub300\ud55c \ucd1d \uccad\uc0b0 \uae30\uae08 \uc694\uac74\uc740 2025\ub144 6\uc6d4 30\uc77c\uae4c\uc9c0 963\uc5b5 \ub2ec\ub7ec\ub85c \uc99d\uac00\ud558\uba70, \uc704\ud5d8 \ud504\ub85c\ud544\uc5d0 \ub530\ub77c \ud68c\uc6d0\uc0ac \uac04\uc5d0 \uc99d\uac00\ubd84\uc774 \ubd84\ubc30\ub418\uc5b4 \uc18c\uaddc\ubaa8 \uae30\uc5c5\uc758 \uc9c4\uc785 \uc7a5\ubcbd\uc744 \ub192\uc785\ub2c8\ub2e4. LME Clear\uc640 \uac19\uc740 \ucd5c\uc18c \ub514\ud3f4\ud2b8 \ud380\ub4dc \uae30\uc5ec\uae08 \ubc0f \uc21c\uc790\ubcf8 \uae30\uc900\uc740 \uc801\uaca9 \ub2f4\ubcf4\ub97c \uc81c\uacf5\ud560 \uc218 \uc788\ub294 \uc790\ubcf8\ub825\uc774 \ucda9\ubd84\ud55c \uae30\uad00\uc73c\ub85c \uc9c1\uc811 \uccad\uc0b0 \ucc38\uc5ec\ub97c \uc81c\ud55c\ud569\ub2c8\ub2e4.<br \/>\n*   \uaddc\uc81c \ubc0f \ucef4\ud50c\ub77c\uc774\uc5b8\uc2a4 \ubcf5\uc7a1\uc131 \uc99d\uac00: 2025\ub144 \ubc1c\ud6a8\ub418\ub294 EU\uc758 DORA(\ub514\uc9c0\ud138 \uc6b4\uc601 \ubcf5\uc6d0\ub825\ubc95) \uccb4\uc81c\ub294 \uac70\uc758 \uc2e4\uc2dc\uac04 \uc0ac\uace0 \ubcf4\uace0, \uc8fc\uae30\uc801\uc778 \uc704\ud611 \uae30\ubc18 \uce68\ud22c \ud14c\uc2a4\ud2b8 \ubc0f \uc911\uc694 \uc81c3\uc790 ICT \uc81c\uacf5\uc5c5\uccb4\uc5d0 \ub300\ud55c \uac10\ub3c5\uc744 \uc758\ubb34\ud654\ud558\uc5ec \uccad\uc0b0 \uc6b4\uc601\uc790 \uc804\ubc18\uc5d0 \uac78\uccd0 \uac70\ubc84\ub10c\uc2a4 \ubc0f \uc778\ub825 \ubcc0\ud654\ub97c \uc694\uad6c\ud569\ub2c8\ub2e4. EMIR REFIT\uc740 \ud30c\uc0dd\uc0c1\ud488 \ubcf4\uace0\ub97c 204\uac1c \ud544\ub4dc\ub85c \ud655\uc7a5\ud588\uc73c\uba70, \ucd08\uae30 \uac70\ubd80\uc728\uc740 \uad11\ubc94\uc704\ud55c \uc7ac\uc870\uc815 \ud6c4\uc5d0\uc57c \uac1c\uc120\ub418\uc5b4 \ub2e4\uc911 \uad00\ud560\uad8c \ubcf4\uace0\uc758 \ud559\uc2b5 \uace1\uc120\uc744 \uac15\uc870\ud569\ub2c8\ub2e4.<br \/>\n*   \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8 \uc99d\uac00: \uace0\uac00\uce58 \uac70\ub798 \uc2dc\uc2a4\ud15c\uc744 \uc704\ud55c \uc548\uc804\ud55c \uc778\ud504\ub77c\uc5d0 \ub300\ud55c \uc9c0\uc18d\uc801\uc778 \ud22c\uc790\uac00 \ud544\uc218\uc801\uc785\ub2c8\ub2e4.<br \/>\n*   \ub808\uac70\uc2dc \uccad\uc0b0 \uc778\ud504\ub77c \uc758\uc874: \ud655\uc7a5\uc131\uc744 \uc81c\ud55c\ud558\uace0 \ucc28\uc138\ub300 \uae30\uc220\uacfc\uc758 \ud1b5\ud569\uc744 \ub2a6\ucda5\ub2c8\ub2e4.<\/p>\n<p>3. \uc138\uadf8\uba3c\ud2b8 \ubd84\uc11d<\/p>\n<p>3.1. \uc720\ud615\ubcc4: \uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c, \uc704\ud5d8 \uc644\ud654 \ubc0f \uc0c1\uacc4 \ud6a8\uc728\uc131 \uc8fc\ub3c4<br \/>\n\uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c\ub294 2025\ub144 67.50%\uc758 \uc810\uc720\uc728\uc744 \ucc28\uc9c0\ud558\uba70 2031\ub144\uae4c\uc9c0 5.82%\uc758 CAGR\ub85c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4. \uc774\ub294 \ucd1d \uc758\ubb34\ub97c \uc555\ucd95\ud558\uace0 \uad6d\uacbd \uac04 \uc790\uae08 \uc870\ub2ec \uc2a4\ud2b8\ub808\uc2a4\ub97c \uc904\uc774\ub294 \ub2e4\uc790\uac04 \uc0c1\uacc4\uc5d0 \uc758\ud574 \ub4b7\ubc1b\uce68\ub429\ub2c8\ub2e4. \uc720\ub3d9\uc131 \uc774\uc810\uc740 \uc77c\uc0c1\uc801\uc778 \uc6b4\uc601\uc73c\ub85c \uc774\uc5b4\uc9c0\ub294\ub370, \uc544\uc6c3\uc6cc\ub4dc \ud50c\ub7ab\ud3fc\uc740 \ub300\uaddc\ubaa8 \uacb0\uc81c \ubc0f \ub3c4\ub9e4 \uac70\ub798\ub97c \ucc98\ub9ac\ud558\ub294 \ub3d9\uc2dc\uc5d0 \ud6a8\uc728\uc801\uc778 \uc0c1\uacc4\ub97c \uc704\ud574 \uc5ec\ub7ec \uad00\ud560\uad8c\uc5d0 \uac78\uccd0 \ub178\ucd9c\uc744 \ud1b5\ud569\ud558\uae30 \ub54c\ubb38\uc785\ub2c8\ub2e4. EURO1\uc740 2024\ub144\uc5d0 4,577\ub9cc \uac74\uc758 \uacb0\uc81c(53\uc870 4\ucc9c\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8)\ub97c \ucc98\ub9ac\ud588\uc73c\uba70, TARGET2\uc5d0\uc11c \ucd5c\uc885 \uc794\uc561\uc744 \uacb0\uc81c\ud558\ub294 \ubcf4\uc644\uc801\uc778 \ub2e4\uc790\uac04 \uc21c \uc2dc\uc2a4\ud15c\uc73c\ub85c \uc6b4\uc601\ub418\uc5b4 \ucc38\uc5ec\uc790\uc758 \uc720\ub3d9\uc131 \ud504\ub85c\ud544\uc744 \ucd5c\uc801\ud654\ud569\ub2c8\ub2e4. \ubbf8\uad6d \uc7ac\ubb34\ubd80\uc758 \uc911\uc559 \uccad\uc0b0 \uc758\ubb34\ud654\ub294 2027\ub144\uae4c\uc9c0 \uc77c\uc77c 4\uc870 \ub2ec\ub7ec\uc758 \ud65c\ub3d9\uc744 \uc544\uc6c3\uc6cc\ub4dc \uccad\uc0b0\uc18c\ub85c \uc720\ub3c4\ud558\uc5ec \ub300\uaddc\ubaa8 \uc0c1\uacc4 \ubc0f \ub9c8\uc9c4 \ud6a8\uc728\uc131\uc744 \ub354\uc6b1 \uc81c\ub3c4\ud654\ud560 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>\uc778\uc6cc\ub4dc \uccad\uc0b0\uc18c(Inward Clearing House)\ub294 \uad6d\ub0b4 \uc2dc\uc7a5 \uad6c\uc870\uc5d0 \uc801\ud569\ud55c \uc704\ud5d8 \ubaa8\ub378\uc744 \uc0ac\uc6a9\ud558\uc5ec \uad6d\ub0b4 \uacb0\uc81c \ubc0f \uc99d\uad8c \ud750\ub984\uc5d0 \uc911\uc810\uc744 \ub461\ub2c8\ub2e4. \ud64d\ucf69\uc758 CCASS\ub294 \uad6d\ub0b4 \ud658\uacbd\uc5d0\uc11c\ub3c4 \uc8fc\uc2dd \ubc0f \uc790\uae08 \uc0c1\uacc4 \ube44\uc728\uc774 \uac01\uac01 98% \ubc0f 88% \uc774\uc0c1\uc744 \uae30\ub85d\ud558\uba70 \uc720\ub3d9\uc131\uc744 \ud06c\uac8c \uc644\ud654\ud560 \uc218 \uc788\uc74c\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4.<\/p>\n<p>3.2. \uc11c\ube44\uc2a4\ubcc4: TARGET2, \ub300\uaddc\ubaa8 \uacb0\uc81c \uc9c0\ubc30 \ubc0f TIPS, \uc989\uc2dc \uacb0\uc81c \ucc44\ud0dd \uac00\uc18d\ud654<br \/>\nTARGET2\ub294 2025\ub144 \uc11c\ube44\uc2a4 \uc720\ud615 \uc810\uc720\uc728\uc758 43.80%\ub97c \ucc28\uc9c0\ud558\uba70 2031\ub144\uae4c\uc9c0 \uc5f0\uac04 7.43% \ud655\uc7a5\ub420 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uc5b4 \uc720\ub85c\ud654 \ub300\uaddc\ubaa8 \uacb0\uc81c \ud750\ub984 \uc804\ubc18\uc5d0 \uac78\uccd0 \ud575\uc2ec \uc5ed\ud560\uc744 \uc218\ud589\ud558\uace0 \uc788\uc74c\uc744 \ud655\uc778\uc2dc\ucf1c \uc90d\ub2c8\ub2e4. 2024\ub144\uc5d0 1\uc5b5 8\ubc31\ub9cc \uac74\uc758 \uac70\ub798(463\uc870 7\ucc9c\uc5b5 \uc720\ub85c \uaddc\ubaa8)\ub97c \ucc98\ub9ac\ud588\uc73c\uba70, T2S\ub294 2\uc5b5 260\ub9cc \uac74\uc758 \uc99d\uad8c \uac70\ub798(248\uc870 9\ucc9c\uc5b5 \uc720\ub85c \uaddc\ubaa8)\ub97c \ucc98\ub9ac\ud558\uc5ec \ud1b5\ud654 \ub3d9\ub9f9 \uc804\ubc18\uc5d0 \uac78\uccd0 \uc870\ud654\ub85c\uc6b4 \uac70\ub798 \ud6c4 \ud750\ub984\uc744 \uac15\ud654\ud588\uc2b5\ub2c8\ub2e4. TIPS \uac70\ub798\ub7c9\uc740 2024\ub144\uc5d0 402.2% \uae09\uc99d\ud558\uc5ec 13\uc5b5 5\ucc9c\ub9cc \uac74\uc5d0 \ub2ec\ud588\uc73c\uba70, \ubd81\uc720\ub7fd \uc804\uc5ed\uc758 \uc0c8\ub85c\uc6b4 \ud1b5\ud654\ub85c \ud655\uc7a5\ub418\uc5b4 \uc18c\ub9e4 \ubc0f \uc0c1\uc5c5\uc6a9 \ubaa8\ub450\uc5d0 \ub300\ud55c \uc2e4\uc2dc\uac04 \ud45c\uc900\uc744 \ud615\uc131\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>SEPA(\ub2e8\uc77c\uc720\ub85c\uacb0\uc81c\uc9c0\uc5ed) \uc0c1\ud488 \ubc0f \uc9c0\uc6d0 \uc778\ud504\ub77c\ub294 \uc720\ub85c\ud654 \uc18c\ub9e4 \uacb0\uc81c\ub97c \ubcf4\uc644\ud558\uba70, STEP2 SCT\ub294 \ub354 \ub192\uc740 \uac70\ub798\ub7c9\uc744 \uae30\ub85d\ud558\uace0 SDD\ub294 2024\ub144\uc5d0 \uc218\ubc31\uc5b5 \uac74\uc758 \uac70\ub798\ub97c \uc720\uc9c0\ud588\uc2b5\ub2c8\ub2e4. RT1 \uc989\uc2dc \uacb0\uc81c\ub294 2024\ub144\uc5d0 11\uc5b5 \uac74\uc744 \ub118\uc5b4\uc130\uc73c\uba70 2025\ub144\uc5d0\ub3c4 \uac15\ub825\ud55c \uc131\uc7a5\uc744 \ubcf4\uc600\uc2b5\ub2c8\ub2e4. EURO1\uc740 T2\uc5d0\uc11c \ucd5c\uc885 \uacb0\uc81c\uac00 \uc774\ub8e8\uc5b4\uc9c0\ub294 \ub2e4\uc790\uac04 \uc0c1\uacc4\ub97c \ud1b5\ud574 TARGET2\ub97c \ubcf4\uc644\ud569\ub2c8\ub2e4.<\/p>\n<p>4. \uc9c0\uc5ed \ubd84\uc11d<\/p>\n<p>*   \ubd81\ubbf8: 2025\ub144 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc758 34.65%\ub97c \ucc28\uc9c0\ud558\uba70, \uc5f0\ubc29\uc900\ube44\uc81c\ub3c4 \uc11c\ube44\uc2a4\uc640 \ubbf8\uad6d \uc7ac\ubb34\ubd80 \uac70\ub798 \uaddc\ubaa8\uc5d0 \ud798\uc785\uc5b4 \uc131\uc7a5\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uad6d\ub9bd\uacb0\uc81c\uc11c\ube44\uc2a4(National Settlement Service)\ub294 2024\ub144\uc5d0 28\uc870 3\ucc9c\uc5b5 \ub2ec\ub7ec\ub97c \ucc98\ub9ac\ud588\uc73c\uba70, \uc77c\uc77c \ud3c9\uade0 \uacb0\uc81c\uc561\uc740 1,126\uc5b5 \ub2ec\ub7ec\uc5d0 \ub2ec\ud588\uc2b5\ub2c8\ub2e4. FedNow\ub294 2025\ub144 3\ubd84\uae30\uc5d0 250\ub9cc \uac74\uc758 \uac70\ub798(3,073\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8)\ub97c \uae30\ub85d\ud558\uba70 \uc2e4\uc2dc\uac04 \uae30\ub2a5\uc744 \ucd94\uac00\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc720\ub7fd: 2031\ub144\uae4c\uc9c0 6.65%\uc758 \uac00\uc7a5 \ube60\ub978 CAGR\uc744 \uae30\ub85d\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub418\uba70, TARGET \uc11c\ube44\uc2a4, ISO 20022 \uc870\ud654 \ubc0f \uc989\uc2dc \uacb0\uc81c \uaddc\uc815\uc758 \uc218\ub834\uc5d0 \ud798\uc785\uc5b4 \uc131\uc7a5\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. Clearstream\uc740 T2S \ud558\uc5d0\uc11c \ub192\uc740 \uacb0\uc81c \ud6a8\uc728\uc131\uc744 \ub2ec\uc131\ud558\uace0 \uc788\uc73c\uba70, LCH \ubc0f ICE Clear Europe\uc740 ESMA(\uc720\ub7fd\uc99d\uad8c\uc2dc\uc7a5\uac10\ub3c5\uccad) \ud558\uc5d0\uc11c Tier 2 CCP\ub85c \uc6b4\uc601\ub429\ub2c8\ub2e4.<br \/>\n*   \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591: \uc77c\ubcf8 JSCC\uc758 \uae30\ub85d\uc801\uc778 \uc2a4\uc651 \uccad\uc0b0\ubd80\ud130 \ud55c\uad6d\uc758 \ube60\ub978 OTC \uc131\uc7a5, \uc778\ub3c4\uc758 \uac15\ub825\ud55c \uc989\uc2dc \uacb0\uc81c \uce68\ud22c\uc728\uc5d0 \uc774\ub974\uae30\uae4c\uc9c0 \uc774\uc9c8\uc801\uc778 \uc131\uc219\ub3c4\ub97c \ubcf4\uc785\ub2c8\ub2e4. \ud64d\ucf69\uc758 CCASS\ub294 99.89%\uc758 T+2 \ud6a8\uc728\uc131\uc744 \uae30\ub85d\ud588\uc73c\uba70, OTC Clear\uc758 \ud30c\uc0dd\uc0c1\ud488 \uac70\ub798\ub7c9\uc740 2025\ub144 \uc0c1\ubc18\uae30\uc5d0 \uae09\uc99d\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ub0a8\ubbf8, \uc544\ud504\ub9ac\uce74 \ubc0f \uc911\ub3d9: \ub0a8\ubbf8\uc5d0\uc11c\ub294 \ube0c\ub77c\uc9c8\uc758 PIX\uac00 \uc218\uc2ed\uc5b5 \uac74\uc758 \uc6d4\ubcc4 \uac70\ub798\uc640 \uac00\uacc4 \ubc0f \uae30\uc5c5\uc758 \uad11\ubc94\uc704\ud55c \ucc38\uc5ec\ub85c \ucc44\ud0dd\uc744 \uc8fc\ub3c4\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uc544\ud504\ub9ac\uce74 \ubc0f \uc911\ub3d9 \uc9c0\uc5ed\uc5d0\uc11c\ub294 GCC(\uac78\ud504\ud611\ub825\ud68c\uc758) \ubc0f \ub0a8\uc544\ud504\ub9ac\uce74\uc5d0\uc11c \uac15\ub825\ud55c \ud65c\ub3d9\uc774 \uad00\ucc30\ub429\ub2c8\ub2e4.<\/p>\n<p>5. \uacbd\uc7c1 \ud658\uacbd \ubc0f \uc8fc\uc694 \ud50c\ub808\uc774\uc5b4<\/p>\n<p>\uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc740 \uc911\uac04 \uc815\ub3c4\uc758 \ud1b5\ud569\uc744 \ubcf4\uc774\uba70, \ubbf8\uad6d\uc5d0\ub294 CME, FICC, NSCC, ICE Clear Credit, OCC \ub4f1 5\uac1c\uc758 Title VIII \uc9c0\uc815 \uae08\uc735 \uc2dc\uc7a5 \uc778\ud504\ub77c(FMU)\uac00 \ud604\uae08 \ubc0f \ud30c\uc0dd\uc0c1\ud488 \uc804\ubc18\uc5d0 \uac78\uccd0 \uc911\uc559 \uccad\uc0b0\uc744 \uc81c\uacf5\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. FICC\ub294 \uc5ed\uc0ac\uc801\uc73c\ub85c \ubbf8\uad6d \uad6d\ucc44 \ud604\uae08 \ubc0f \ub808\ud3ec \uccad\uc0b0\uc744 \ub3c5\uc810\ud588\uc9c0\ub9cc, CME Securities Clearing\uc758 \uc0c8\ub85c\uc6b4 \uc2b9\uc778\uc740 \uc758\ubb34\uc801\uc778 \uc911\uc559 \uccad\uc0b0 \ub300\uc0c1\uc774 \ub420 \ud750\ub984\uc5d0 \ub300\ud55c \uacbd\uc7c1\uc744 \ub3c4\uc785\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc720\ub7fd\uc758 \uccad\uc0b0 \ubc0f \uc608\ud0c1 \uc778\ud504\ub77c\ub294 ESMA \ud558\uc758 Tier 2 CCP\uc778 LCH Limited \ubc0f ICE Clear Europe\uc744 \uc911\uc2ec\uc73c\ub85c \ud558\uba70, Euroclear \ubc0f Clearstream\uc774 \uc9c0\ubc30\uc801\uc778 CSD(\uc911\uc559\uc608\ud0c1\uacb0\uc81c\uae30\uad00) \uc5ed\ud560\uc744 \ud558\uace0 SIX \uc5d4\ud2f0\ud2f0\uac00 \uc2a4\uc704\uc2a4 \ubc0f \ubc94\uc720\ub7fd \uc694\uad6c\ub97c \ucda9\uc871\ud569\ub2c8\ub2e4. EBA CLEARING\uc758 EURO1, STEP2 \ubc0f RT1\uc740 2024\ub144\uc5d0 226\uc5b5 2\ucc9c\ub9cc \uac74\uc758 \uac70\ub798(83\uc870 8\ucc9c\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8)\ub97c \ucc98\ub9ac\ud588\uc73c\uba70, RT1 \uc989\uc2dc \uacb0\uc81c\ub294 32% \uc99d\uac00\ud55c 11\uc5b5 7\ubc31\ub9cc \uac74\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. \uc544\uc2dc\uc544 \ud0dc\ud3c9\uc591 \uc9c0\uc5ed\uc5d0\uc11c\ub294 \uc77c\ubcf8 JSCC\uac00 2024\ub144\uc5d0 \uc5d4\ud654 \uae08\ub9ac \uc2a4\uc651 \uccad\uc0b0\uc744 \uc804\ub144 \ub300\ube44 \ub450 \ubc30\ub85c \ub298\ub838\uc73c\uba70, \ud64d\ucf69 OTC Clear\ub294 USD IRS \uccad\uc0b0\uc744 \ud655\ub300\ud558\uace0 \uc911\uad6d \uad6d\ucc44\ub97c \ud3ec\ud568\ud55c \uc0c8\ub85c\uc6b4 \ub2f4\ubcf4 \ucc44\ub110\uc744 \uac1c\uc124\ud588\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uc8fc\uc694 \uc0b0\uc5c5 \ub9ac\ub354:<br \/>\n*   Depository Trust &#038; Clearing Corporation (DTCC)<br \/>\n*   Euroclear Group<br \/>\n*   LCH Limited (London Stock Exchange Group \/ LSEG)<br \/>\n*   Clearstream (Deutsche B\u00f6rse Group)<br \/>\n*   CME Clearing (CME Group)<\/p>\n<p>6. \ucd5c\uadfc \uc0b0\uc5c5 \ub3d9\ud5a5<\/p>\n<p>*   2025\ub144 12\uc6d4: CME Securities Clearing, Inc.\ub294 \uc99d\uad8c\uac70\ub798\uc704\uc6d0\ud68c(SEC)\ub85c\ubd80\ud130 \ud604\uae08 \uad6d\ucc44 \ubc0f \ub808\ud3ec \uac70\ub798 \uccad\uc0b0 \uc2b9\uc778\uc744 \ubc1b\uc544 Fixed Income Clearing Corporation(FICC)\uc758 \ub3c5\uc810\uc744 \uc885\uc2dd\uc2dc\ud0a4\uace0 6\uc870 \ub2ec\ub7ec \uaddc\ubaa8\uc758 \ubbf8\uad6d \uad6d\ucc44 \uc2dc\uc7a5\uc5d0 \uacbd\uc7c1\uc744 \ub3c4\uc785\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   2024\ub144 9\uc6d4: LCH\ub294 \ub0a8\uc544\ud504\ub9ac\uce74 \ub79c\ub4dc \uc624\ubc84\ub098\uc774\ud2b8 \uc778\ub371\uc2a4 \ud3c9\uade0(ZARONIA)\uc744 \ubca4\uce58\ub9c8\ud06c\ub85c \ud558\ub294 \uc624\ubc84\ub098\uc774\ud2b8 \uc778\ub371\uc2a4 \uc2a4\uc651(OIS) \uccad\uc0b0\uc744 \ub3c4\uc785\ud558\uc5ec \uc774 \uae30\ub2a5\uc744 \uc81c\uacf5\ud558\ub294 \ucd5c\ucd08\uc758 \uc911\uc559 \uac70\ub798\uc0c1\ub300\ubc29\uc774 \ub418\uc5c8\uc73c\uba70 \uc2e0\ud765 \uc2dc\uc7a5 \ud1b5\ud654\uc2dc\uc7a5\uc758 \ud6a8\uc728\uc131\uacfc \uc548\uc815\uc131\uc744 \ub192\uc774\ub294 \ub370 \uae30\uc5ec\ud588\uc2b5\ub2c8\ub2e4.<br \/>\n*   2024\ub144 7\uc6d4: \uc720\ub7fd\uc5f0\ud569(EU)\uc740 \uc720\ub7fd \uccad\uc0b0\uc18c\uc758 \uac10\ub3c5\uc744 \uac15\ud654\ud558\uace0 EU \ub0b4 \uccad\uc0b0 \uc5ed\ub7c9\uc744 \ud655\ub300\ud558\uae30 \uc704\ud55c \uc0c8\ub85c\uc6b4 \uaddc\uc815\uc744 \ucc44\ud0dd\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 \ube0c\ub809\uc2dc\ud2b8 \uc774\ud6c4 \ub7f0\ub358\uc5d0 \uae30\ubc18\uc744 \ub454 \uccad\uc0b0\uc18c\uc5d0 \ub300\ud55c \uc758\uc874\ub3c4\ub97c \uc904\uc774\ub824\ub294 \ub178\ub825\uc758 \uc77c\ud658\uc785\ub2c8\ub2e4.<br \/>\n*   2024\ub144 5\uc6d4: DTCC\ub294 \ubbf8\uad6d \uad6d\ucc44 \uc2dc\uc7a5\uc758 \uacb0\uc81c \ud6a8\uc728\uc131\uc744 \ub192\uc774\uae30 \uc704\ud574 T+1 \uacb0\uc81c \uc8fc\uae30\ub97c \ub3c4\uc785\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 \uac70\ub798 \ud6c4 \uacb0\uc81c\uae4c\uc9c0 \uac78\ub9ac\ub294 \uc2dc\uac04\uc744 \ub2e8\ucd95\ud558\uc5ec \uc2dc\uc7a5 \uc704\ud5d8\uc744 \uc904\uc774\uace0 \uc790\ubcf8 \ud6a8\uc728\uc131\uc744 \uac1c\uc120\ud558\ub294 \uac83\uc744 \ubaa9\ud45c\ub85c \ud569\ub2c8\ub2e4.<br \/>\n*   2024\ub144 3\uc6d4: Clearstream\uc740 \ub8e9\uc148\ubd80\ub974\ud06c\uc5d0 \uc0c8\ub85c\uc6b4 \ub514\uc9c0\ud138 \uc790\uc0b0 \uccad\uc0b0 \ubc0f \uacb0\uc81c \ud50c\ub7ab\ud3fc\uc744 \ucd9c\uc2dc\ud558\uc5ec \ud1a0\ud070\ud654\ub41c \uc99d\uad8c \ubc0f \uae30\ud0c0 \ub514\uc9c0\ud138 \uc790\uc0b0\uc5d0 \ub300\ud55c \uc11c\ube44\uc2a4\ub97c \uc81c\uacf5\ud558\uae30 \uc2dc\uc791\ud588\uc2b5\ub2c8\ub2e4. \uc774\ub294 \ube14\ub85d\uccb4\uc778 \uae30\uc220\uc744 \ud65c\uc6a9\ud55c \uae08\uc735 \uc2dc\uc7a5 \uc778\ud504\ub77c\uc758 \ubc1c\uc804\uc744 \ubcf4\uc5ec\uc90d\ub2c8\ub2e4.<\/p>\n<p>7. \uc8fc\uc694 \uacfc\uc81c \ubc0f \ubbf8\ub798 \uc804\ub9dd<\/p>\n<p>*   \uaddc\uc81c \ud658\uacbd \ubcc0\ud654: \uc804 \uc138\uacc4\uc801\uc73c\ub85c \uc911\uc559 \uac70\ub798\uc0c1\ub300\ubc29\uc5d0 \ub300\ud55c \uaddc\uc81c \uac10\ub3c5\uc774 \uac15\ud654\ub418\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uc6b4\uc601 \ube44\uc6a9 \uc99d\uac00\uc640 \uc0c8\ub85c\uc6b4 \uae30\uc220 \ub3c4\uc785\uc5d0 \ub300\ud55c \uc81c\uc57d\uc73c\ub85c \uc791\uc6a9\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \uad6d\uacbd \uac04 \uccad\uc0b0 \ud65c\ub3d9\uc5d0 \ub300\ud55c \uaddc\uc81c \uc870\ud654\ub294 \uc5ec\uc804\ud788 \uc911\uc694\ud55c \uacfc\uc81c\uc785\ub2c8\ub2e4.<br \/>\n*   \uae30\uc220 \ud601\uc2e0: \ube14\ub85d\uccb4\uc778, \ubd84\uc0b0\uc6d0\uc7a5\uae30\uc220(DLT), \uc778\uacf5\uc9c0\ub2a5(AI) \ub4f1\uc758 \uc2e0\uae30\uc220\uc740 \uccad\uc0b0 \ubc0f \uacb0\uc81c \ud504\ub85c\uc138\uc2a4\uc758 \ud6a8\uc728\uc131\uc744 \ud601\uc2e0\ud560 \uc7a0\uc7ac\ub825\uc744 \uac00\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uc774\ub7ec\ud55c \uae30\uc220\uc744 \uae30\uc874 \uc2dc\uc2a4\ud15c\uc5d0 \ud1b5\ud569\ud558\uace0 \ubcf4\uc548 \ubb38\uc81c\ub97c \ud574\uacb0\ud558\ub294 \uac83\uc740 \ubcf5\uc7a1\ud55c \uacfc\uc81c\uc785\ub2c8\ub2e4.<br \/>\n*   \uc2dc\uc7a5 \uacbd\uc7c1 \uc2ec\ud654: CME Clearing\uc758 \ubbf8\uad6d \uad6d\ucc44 \uc2dc\uc7a5 \uc9c4\uc785\uacfc \uac19\uc774 \uc0c8\ub85c\uc6b4 \uacbd\uc7c1\uc790\ub4e4\uc774 \ub4f1\uc7a5\ud558\uba74\uc11c \uae30\uc874 \uccad\uc0b0\uc18c\ub4e4\uc740 \uc11c\ube44\uc2a4 \ud601\uc2e0\uacfc \ube44\uc6a9 \ud6a8\uc728\uc131 \uac1c\uc120\uc744 \ud1b5\ud574 \uacbd\uc7c1\ub825\uc744 \uc720\uc9c0\ud574\uc57c \ud569\ub2c8\ub2e4.<br \/>\n*   \uc0ac\uc774\ubc84 \ubcf4\uc548: \uae08\uc735 \uc2dc\uc7a5 \uc778\ud504\ub77c\uc758 \ud575\uc2ec\uc778 \uccad\uc0b0\uc18c\ub294 \uc0ac\uc774\ubc84 \uacf5\uaca9\uc758 \uc8fc\uc694 \ud45c\uc801\uc774 \ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ub530\ub77c\uc11c \uac15\ub825\ud55c \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc2dc\uc2a4\ud15c\uc744 \uad6c\ucd95\ud558\uace0 \uc720\uc9c0\ud558\ub294 \uac83\uc774 \ud544\uc218\uc801\uc785\ub2c8\ub2e4.<br \/>\n*   \uae30\ud6c4 \ubcc0\ud654 \ubc0f ESG: \uae30\ud6c4 \ubcc0\ud654 \uad00\ub828 \uc704\ud5d8\uacfc \ud658\uacbd, \uc0ac\ud68c, \uc9c0\ubc30\uad6c\uc870(ESG) \uc694\uc18c\ub294 \uae08\uc735 \uc2dc\uc7a5 \uc804\ubc18\uc5d0 \uac78\uccd0 \uc911\uc694\uc131\uc774 \ucee4\uc9c0\uace0 \uc788\uc73c\uba70, \uccad\uc0b0\uc18c \ub610\ud55c \uc774\ub7ec\ud55c \uc694\uc18c\ub97c \uc6b4\uc601 \ubc0f \uc704\ud5d8 \uad00\ub9ac \ud504\ub808\uc784\uc6cc\ud06c\uc5d0 \ud1b5\ud569\ud574\uc57c \ud558\ub294 \uc555\ub825\uc744 \ubc1b\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>\uacb0\ub860\uc801\uc73c\ub85c, \uc911\uc559 \uac70\ub798\uc0c1\ub300\ubc29\uc740 \uae08\uc735 \uc2dc\uc7a5\uc758 \uc548\uc815\uc131\uacfc \ud6a8\uc728\uc131\uc744 \ubcf4\uc7a5\ud558\ub294 \ub370 \ud544\uc218\uc801\uc778 \uc5ed\ud560\uc744 \ud558\uba70, \ub04a\uc784\uc5c6\uc774 \ubcc0\ud654\ud558\ub294 \uc2dc\uc7a5 \ud658\uacbd\uacfc \uae30\uc220 \ubc1c\uc804\uc5d0 \ubc1c\ub9de\ucdb0 \uc9c4\ud654\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \uaddc\uc81c \uac15\ud654, \uae30\uc220 \ud601\uc2e0, \uc2dc\uc7a5 \uacbd\uc7c1 \uc2ec\ud654 \ub4f1\uc758 \uacfc\uc81c\ub97c \ud574\uacb0\ud558\uba74\uc11c \ubbf8\ub798 \uae08\uc735 \uc2dc\uc7a5\uc758 \ud575\uc2ec \uc778\ud504\ub77c\ub85c\uc11c \uadf8 \uc911\uc694\uc131\uc740 \ub354\uc6b1 \ucee4\uc9c8 \uac83\uc785\ub2c8\ub2e4.<\/p>\n<p>\ubcf8 \ubcf4\uace0\uc11c\ub294 \uae00\ub85c\ubc8c \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc5d0 \ub300\ud55c \uc2ec\uce35 \ubd84\uc11d\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \uccad\uc0b0\uc18c\ub294 \uae08\uc735 \uc0c1\ud488\uc758 \ub9e4\uc218\uc790\uc640 \ub9e4\ub3c4\uc790 \uac04 \uc911\uac1c\uc790 \uc5ed\ud560\uc744 \uc218\ud589\ud558\uba70, \uac70\ub798 \uacc4\uc88c \uc815\uc0b0, \uac70\ub798 \uccad\uc0b0, \uc99d\uac70\uae08 \uad00\ub9ac, \uc778\ub3c4 \uaddc\uc81c \ubc0f \uac70\ub798 \ub370\uc774\ud130 \ubcf4\uace0\ub97c \ub2f4\ub2f9\ud558\ub294 \uae30\uad00\uc785\ub2c8\ub2e4. \ubcf8 \ubcf4\uace0\uc11c\ub294 \uc2dc\uc7a5\uc758 \uc804\ubc18\uc801\uc778 \ubc30\uacbd \ubd84\uc11d\uacfc \ud568\uaed8 \uad6d\uac00 \uacc4\uc815, \uacbd\uc81c, \uace0\uc6a9 \ubc0f \uc2e0\ud765 \uc2dc\uc7a5 \ub3d9\ud5a5\uc744 \ud3c9\uac00\ud558\uace0, \uc2dc\uc7a5 \uc5ed\ud559\uc758 \uc8fc\uc694 \ubcc0\ud654 \ubc0f \uc2dc\uc7a5 \uac1c\uc694\ub97c \ub2e4\ub8f9\ub2c8\ub2e4.<\/p>\n<p>1. \uc2dc\uc7a5 \ub3d9\uc778 (Market Drivers)<br \/>\n\uae00\ub85c\ubc8c \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc758 \uc131\uc7a5\uc744 \uacac\uc778\ud558\ub294 \uc8fc\uc694 \uc694\uc778\ub4e4\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<br \/>\n*   \uc804\uc790 \ubc0f \uace0\uc6a9\ub7c9 \uac70\ub798 \uc99d\uac00\uc5d0 \ub530\ub978 \ud6a8\uc728\uc801\uc778 \uccad\uc0b0 \ubc0f \uacb0\uc81c \uc778\ud504\ub77c \uc218\uc694 \uc99d\ub300.<br \/>\n*   \uae08\uc735 \uc704\uae30 \uc774\ud6c4 \uc2dc\uc2a4\ud15c \ub9ac\uc2a4\ud06c \uac10\uc18c \ubc0f \uc2dc\uc7a5 \ud22c\uba85\uc131 \uac15\ud654\ub97c \ubaa9\ud45c\ub85c \ud558\ub294 \uaddc\uc81c \uac1c\ud601\uc5d0 \ub530\ub978 \uc911\uc559 \uccad\uc0b0\uc758 \uc911\uc694\uc131 \ubd80\uac01.<br \/>\n*   AI, \ube14\ub85d\uccb4\uc778, \uc790\ub3d9\ud654 \ub4f1 \uccad\uc0b0 \uae30\uc220\uc758 \ubc1c\uc804\uc73c\ub85c \ucc98\ub9ac \uc18d\ub3c4, \uc815\ud655\uc131 \ubc0f \uc6b4\uc601 \ud6a8\uc728\uc131 \ud5a5\uc0c1.<br \/>\n*   \uad6d\uacbd \uac04 \ubc0f \ud30c\uc0dd\uc0c1\ud488 \uac70\ub798 \uc99d\uac00\ub85c \uad00\ud560\uad8c \uc804\ubc18\uc5d0 \uac78\uccd0 \uc0c1\ud638 \uc6b4\uc6a9 \uac00\ub2a5\ud558\uace0 \ud0c4\ub825\uc801\uc778 \uccad\uc0b0 \uc2dc\uc2a4\ud15c\uc758 \ud544\uc694\uc131 \uc99d\ub300.<br \/>\n*   \uc2dc\uc7a5 \ubcc0\ub3d9\uc131 \uac00\uc18d\ud654\uc5d0 \ub530\ub978 \uac70\ub798\uc0c1\ub300\ubc29 \uc704\ud5d8 \uad00\ub9ac\uc758 \uc911\uc694\uc131 \uc99d\ub300\ub85c \uc911\uc559 \uc9d1\uc911\uc2dd \uccad\uc0b0 \uba54\ucee4\ub2c8\uc998 \ucc44\ud0dd \uac00\uc18d\ud654.<br \/>\n*   \uc804\uc790 \ubc0f \uace0\ube48\ub3c4 \uac70\ub798 \ud50c\ub7ab\ud3fc\uc758 \ud655\uc7a5\uc73c\ub85c \ud655\uc7a5 \uac00\ub2a5\ud558\uace0 \uace0\uc6a9\ub7c9\uc758 \uacb0\uc81c \uc194\ub8e8\uc158\uc5d0 \ub300\ud55c \uc694\uad6c \uc99d\ub300.<\/p>\n<p>2. \uc2dc\uc7a5 \uc81c\uc57d \uc694\uc778 (Market Restraints)<br \/>\n\uc2dc\uc7a5 \uc131\uc7a5\uc744 \uc800\ud574\ud558\ub294 \uc8fc\uc694 \uc81c\uc57d \uc694\uc778\ub4e4\uc740 \ub2e4\uc74c\uacfc \uac19\uc2b5\ub2c8\ub2e4.<br \/>\n*   \ub192\uc740 \ub2f4\ubcf4 \ubc0f \uc790\ubcf8 \uc694\uad6c\uc0ac\ud56d\uc73c\ub85c \uc778\ud55c \uc6b4\uc601 \ube44\uc6a9 \uc99d\uac00 \ubc0f \uc18c\uaddc\ubaa8 \uc2dc\uc7a5 \ucc38\uc5ec\uc790\uc758 \uc9c4\uc785 \uc81c\ud55c.<br \/>\n*   \uc9c4\ud654\ud558\ub294 \uae00\ub85c\ubc8c \ud45c\uc900\uc73c\ub85c \uc778\ud574 \uad6c\ud604 \ubc0f \ubaa8\ub2c8\ud130\ub9c1 \ubd80\ub2f4\uc774 \uac00\uc911\ub418\ub294 \uaddc\uc81c \ubc0f \ucef4\ud50c\ub77c\uc774\uc5b8\uc2a4 \ubcf5\uc7a1\uc131 \uc99d\uac00.<br \/>\n*   \uace0\uac00\uce58 \uac70\ub798 \uc2dc\uc2a4\ud15c\uc744 \uc704\ud55c \ubcf4\uc548 \uc778\ud504\ub77c\uc5d0 \ub300\ud55c \uc9c0\uc18d\uc801\uc778 \ud22c\uc790\ub97c \uc694\uad6c\ud558\ub294 \uc0ac\uc774\ubc84 \ubcf4\uc548 \uc704\ud5d8\uc758 \uace0\uc870.<br \/>\n*   \ub808\uac70\uc2dc \uccad\uc0b0 \uc778\ud504\ub77c\uc5d0 \ub300\ud55c \uc758\uc874\uc131\uc73c\ub85c \uc778\ud55c \ud655\uc7a5\uc131 \uc81c\uc57d \ubc0f \ucc28\uc138\ub300 \uae30\uc220\uacfc\uc758 \ud1b5\ud569 \uc9c0\uc5f0.<\/p>\n<p>3. \uc2dc\uc7a5 \uc138\ubd84\ud654 (Market Segmentation)<br \/>\n\ubcf8 \ubcf4\uace0\uc11c\ub294 \uccad\uc0b0\uc18c \ubc0f \uacb0\uc81c \uc2dc\uc7a5\uc744 \ub2e4\uc74c\uacfc \uac19\uc774 \uc138\ubd84\ud654\ud558\uc5ec \ubd84\uc11d\ud569\ub2c8\ub2e4.<br \/>\n*   \uc720\ud615\ubcc4: \uc5ed\uc678 \uccad\uc0b0\uc18c(Outward Clearing House), \uc5ed\ub0b4 \uccad\uc0b0\uc18c(Inward Clearing House)<br \/>\n*   \uc11c\ube44\uc2a4\ubcc4: TARGET2, SEPA, EBICS, \uae30\ud0c0 \uc11c\ube44\uc2a4 (EURO1, CCBM)<br \/>\n*   \uc9c0\uc5ed\ubcc4: \ubd81\ubbf8, \ub0a8\ubbf8, \uc720\ub7fd, \uc544\uc2dc\uc544\ud0dc\ud3c9\uc591, \uc911\ub3d9 \ubc0f \uc544\ud504\ub9ac\uce74<\/p>\n<p>4. \uc8fc\uc694 \uc2dc\uc7a5 \uc804\ub9dd \ubc0f \uc608\uce21 (Key Market Forecasts)<br \/>\n*   \uc720\ud615\ubcc4 \uc120\ub450 \ubd80\ubb38: \uc5ed\uc678 \uccad\uc0b0\uc18c\ub294 2025\ub144 67.50%\uc758 \uc810\uc720\uc728\ub85c \uc2dc\uc7a5\uc744 \uc120\ub3c4\ud558\uba70, 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 5.82%\uc758 \uac00\uc7a5 \ube60\ub978 \uc131\uc7a5\ub960\uc744 \uc720\uc9c0\ud560 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<br \/>\n*   \uc11c\ube44\uc2a4\ubcc4 \ucd5c\ub300 \uc810\uc720\uc728: TARGET2\ub294 2025\ub144 43.80%\uc758 \uc810\uc720\uc728\ub85c \uac00\uc7a5 \ud070 \ube44\uc911\uc744 \ucc28\uc9c0\ud558\uba70, 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 7.43%\ub85c \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud560 \uac83\uc73c\ub85c \uc608\uc0c1\ub429\ub2c8\ub2e4.<br \/>\n*   \uac00\uc7a5 \ube60\ub974\uac8c \uc131\uc7a5\ud558\ub294 \uc9c0\uc5ed: \uc720\ub7fd\uc740 TARGET \uc11c\ube44\uc2a4 \ud1b5\ud569 \ubc0f ISO 20022 \ub9c8\uc774\uadf8\ub808\uc774\uc158\uc5d0 \ud798\uc785\uc5b4 2031\ub144\uae4c\uc9c0 \uc5f0\ud3c9\uade0 6.65%\ub85c \uac00\uc7a5 \ube60\ub978 \uc9c0\uc5ed \uc131\uc7a5\ub960\uc744 \uae30\ub85d\ud560 \uac83\uc73c\ub85c \uc608\uce21\ub429\ub2c8\ub2e4.<br \/>\n*   \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c\uc758 \uc601\ud5a5: TIPS \ubc0f FedNow\uc640 \uac19\uc740 \uc989\uc2dc \uacb0\uc81c \uc2dc\uc2a4\ud15c\uc758 \ud655\uc7a5\uc740 \uc0c1\uc2dc \uacb0\uc81c(always-on settlement)\uc5d0 \ub300\ud55c \uae30\ub300\ub97c \ub192\uc774\uace0 \uc788\uc2b5\ub2c8\ub2e4. TIPS\ub294 2024\ub144\uc5d0 \uac70\ub798\ub7c9\uc774 402.2% \uae09\uc99d\ud588\uc73c\uba70, FedNow\ub294 2025\ub144 3\ubd84\uae30\uc5d0 3,073\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8\ub85c \ud655\uc7a5\ub420 \uac83\uc73c\ub85c \uc804\ub9dd\ub429\ub2c8\ub2e4.<\/p>\n<p>5. \uacbd\uc7c1 \ud658\uacbd \ubc0f \uc2dc\uc7a5 \uae30\ud68c (Competitive Landscape &#038; Market Opportunities)<br \/>\n\ubcf4\uace0\uc11c\ub294 \uc2dc\uc7a5 \uc9d1\uc911\ub3c4, \uc804\ub7b5\uc801 \uc6c0\uc9c1\uc784, \uc2dc\uc7a5 \uc810\uc720\uc728 \ubd84\uc11d\uc744 \ud3ec\ud568\ud55c \uacbd\uc7c1 \ud658\uacbd\uc744 \uc0c1\uc138\ud788 \ub2e4\ub8e8\uba70, Intact Financial Corporation, DTCC, LCH Limited, Euroclear Group, Clearstream \ub4f1 \uc8fc\uc694 \uae30\uc5c5\ub4e4\uc758 \ud504\ub85c\ud544\uc744 \uc81c\uacf5\ud569\ub2c8\ub2e4. \ud5a5\ud6c4 \uc2dc\uc7a5 \uae30\ud68c\ub85c\ub294 \uc0c8\ub85c\uc6b4 \uc790\uc0b0\uad70\uc73c\ub85c\uc758 \uc911\uc559 \uccad\uc0b0 \ud655\ub300\uc640 \uae30\uc220 \uc8fc\ub3c4\ud615 \ud6a8\uc728\uc131 \ubc0f \ubd80\uac00 \uac00\uce58 \uc11c\ube44\uc2a4 \uac1c\ubc1c\uc774 \uc81c\uc2dc\ub429\ub2c8\ub2e4.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-52941","post","type-post","status-publish","format-standard","hentry","category-market-reports"],"_links":{"self":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/52941"}],"collection":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/comments?post=52941"}],"version-history":[{"count":0,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/posts\/52941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/media?parent=52941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/categories?post=52941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalresearch.co.kr\/insight\/wp-json\/wp\/v2\/tags?post=52941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}