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Oct 08, 2013

Eurex

Eurex Exchange welcomes first direct exchange member in Korea

Eurex Exchange, the international derivatives marketplace, announced today that it admitted its first directly connected trading participant in Korea – Woori Futures. As part of Woori Financial Group, the brokerage firm offers a wide range of brokerage services and aims to expand its service by connecting to leading international exchanges.

“By becoming a Non-Clearing Member (NCM) of Eurex, we expect to give an additional boost to the night-time KOSPI market,” said YuHang Yoon, Senior Managing Director of Woori Futures Co. “For a long time, Woori Futures has worked hard to have overseas futures offered online. It played a pioneering role in the development and construction of trading infrastructure. Direct connection to Eurex secures our competitiveness and increases the reliability of our offering, which allows us to provide better services to our investors.”

“We are pleased to welcome the first Eurex member from Korea,” said Michael Peters, member of the Eurex Executive Board. “By joining Europe’s largest exchange, Woori Futures and its customer base now have direct and reliable access to our international trading network and our full product suite. Eurex currently serves more than 409 members in 35 countries. Korea plays a key role in our entire Asian expansion strategy, and together with Woori Futures we will further extend our service offering to Korea.”

Eurex has already been active in Korea for several years. Since 2010, Eurex and KRX have been cooperating in trading and clearing of KOSPI 200 options, the Eurex/KRX Link. Eurex offers trading of daily futures on KOSPI 200 Options during Korean after-hours. The Link has become one of the most successful cross-listings internationally. Currently, the average daily volume of the Eurex KOSPI Product is around 84,000 contracts.

Early in 2013, Eurex had also received confirmation from the South Korean Financial Services Commission (FSC) to offer its full suite of products in Korea without objection.

Currently, Eurex has around 20 exchange members and trading locations based in Asia and has established two Access Points in the region.

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