Eurex/KRX Link

Settlement information

Eurex Clearing facilitates the transfer of settlement information to KRX through a dedicated technical connection between the two exchanges. The following describes the information that the exchanges require and the reporting for Eurex members. 

To facilitate the transfer of settlement information for expired positions in the Eurex KOSPI Products, Eurex members are required to enter the following information into dedicated settlement fields:

  • 3-digit numeric ID of the KRX member into the field "External Member ID"
  • at least 1 character of a maximum 9 character identification number into the field "Final Beneficiary"

At the end of a trading day, Eurex Clearing settles with a Final Settlement Price which is equal to the Daily Settlement Price for the KOSPI 200 Options calculated at the end of the KRX trading session of the same trading day. Delivery instructions are then created for all expired positions in the Eurex® system.

Eurex Clearing creates net positions based on the identification entered into the field "Final Beneficiary" and provides KRX with data netted over the identification number and paired through an algorithm developed by Eurex Clearing. The file to be transferred by Eurex to KRX contains the following settlement information for each identification number: 

  1. Date and time of execution
  2. Eurex Clearing Member
  3. Eurex member
  4. KRX member ID and identification number (from the fields "External Member ID" and "Final Beneficiary")
  5. Product
  6. Option class
  7. Expiration
  8. Strike
  9. Buy/sell
  10. Settlement price
  11. Quantity
  12. Unique ID number for each pair

The paired positions are transferred via KRX to the designated KRX members depending on the KRX member ID entered in the field "External Member ID" by the Eurex members.

The corresponding Eurex/KRX Link Product positions are then entered into the KRX system via the block trading functionality by the respective KRX members. Net positions can only be accepted or rejected completely

Eurex Clearing receives detailed information regarding position acceptance/rejection from KRX which is made available to all Eurex members in a daily report, KRX Position Information (CB741).

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