Eurex and Korea Exchange, KRX, are further expanding the range of products accessible via their joint link. As of 22 March, Eurex will list futures on the Korean benchmark index KOSPI 200. The new product listing emphasizes once again the partner exchanges’ commitment to connecting markets globally.
Eurex is the only venue that offers international investors access to the Korean market outside Korean trading hours. Overnight KOSPI 200 Options and Mini-KOSPI 200 Futures have been listed on Eurex since 2010 and 2016, respectively.
The launch is of high strategic importance for KRX and Eurex. KOSPI 200 Options are among the four most heavily exchange traded index contracts globally. The opportunity to trade these options on one platform, together with KOSPI 200 Futures, allows for better exposure to and hedging of the Korean derivatives market.
Michael Peters, CEO of Eurex: “With the new KOSPI 200 Futures, we will offer unique trading and hedging efficiencies to our clients. Market participants will benefit from operational but most importantly from margin efficiencies. Adding KOSPI 200 Futures to our link is therefore the logical next step in our successful partnership.”
Sohn Byungdoo, Chairman and CEO of KRX: “This product line-up will allow market participants to access the Korean market almost around the clock. We believe the new offering will make the Korean derivatives market more attractive and further strengthen the decade-long partnership between KRX and Eurex.”
Eurex KOSPI products are fully fungible with the corresponding contracts at KRX. In the same fashion as the existing Eurex KOSPI products, KOSPI 200 Futures are daily expiring contracts resulting in a corresponding position at KRX prior to the KRX market opening.
In addition, both partners are currently working on launching a corresponding FX product on the link.
Eurex is part of Deutsche Börse Group and the marketplace of choice for the global derivatives community. The largest derivatives exchange by open interest globally, Eurex delivers innovation and excellence across the financial industry's value spectrum. The exchange offers a broad range of international benchmark products and operates one of the most liquid fixed income markets in the world. Working with customers, regulators and other stakeholders to facilitate an efficient and diverse market, Eurex provides maximum benefits to all participants by delivering safety and integrity. More than 350 Eurex members in 33 countries, and close to 7,000 registered traders, are connected. The trading volume at Eurex exceeds 1.9 billion contracts a year.
Korea Exchange Inc. (KRX) is the main operator of cash and derivatives maket in Korea and it is also responsible for clearing and settlement facilities in those respective markets. KRX provides its customers with a full access to both cash and derivatives markets, and clears and settles all transactions on its markets as a one-stop service. As a leading derivatives exchange in Asia, KRX offers diverse product group including individual equities, stock index, bond/interest rate, foreign currency and commodities. The KOSPI200 Index is a market capitalization weighted index that consists of 200 blue-chip stocks listed on the KRX stock market. It represents the benchmark indicator of the Korean capital market.
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