News Center
Aug 29, 2013

Eurex

New incentive scheme from Eurex to mark three years of Eurex KOSPI Product

The successful cooperation is now in its fourth year/ Sustained growth of traded volume/ Daily average of 83,000 traded contracts in 2013

On the third anniversary of the Eurex/KRX Link, the international derivatives market Eurex Exchange drew a positive balance on the product cooperation. To celebrate this milestone and in recognition of its success, Eurex Exchange is waiving trading fees for the Eurex KOSPI Product for the month of September. In addition, all Eurex members located in Korea also qualify with immediate effect for the special incentive program for Asian participants. The program grants volume-related discounts and reduced network connection costs to directly connected exchange members. Additionally, Eurex and the area Market Data + Services of Deutsche Börse work closely together to ensure an optimal distribution of Eurex KOSPI Product data.

“Trading volume continued to develop very positively in the third year of the Eurex/KRX cooperation. The average daily volume of traded contracts is 83,000 this year, which is equivalent to almost 4 percent of the daily volume of KOSPI 200 options traded on KRX,” said Michael Peters, member of the Eurex Executive Board. “Our peak this year was in July with the record figure of 236,217 contracts on a single day.”

The Eurex KOSPI Product is traded with the very narrow and attractive spread of one tick due to the liquidity provision by six market makers. The number of active end customers has increased further in the past twelve months, as has the number of direct Eurex and KRX participants. Whereas nine KRX and Eurex participants were trading the Eurex KOSPI Product at launch, there are now 20 Eurex Exchange and 23 KRX participants. Four more KRX and Eurex participants are currently in the admission process.

The Eurex KOSPI Product is a daily futures contract on the KOSPI 200 option listed on the Korea Exchange. The futures contracts expire at the end of each trading day, and open positions are transferred to the KRX into new positions in the KOSPI 200 options. The product cooperation between Eurex and KRX enables market participants to trade the KOSPI 200 option during European and North American trading hours.

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