06 Sep 2022

Eurex | Eurex Clearing

A successful partnership worth celebrating: Korea Exchange and Eurex management meet in Seoul

There is no substitute for a face-to-face meeting, especially when it comes to celebrating a success. And the partnership between Eurex Exchange and the Korea Exchange (KRX), now in its 12th year, is undoubtedly that. Meeting for the first time in Seoul, the CEO of KRX, Byungdoo Sohn, Michael Peters, CEO of Eurex, and Randolf Roth, Executive Board Member of Eurex, were pleased to celebrate the collaboration and joint success in person. 

The discussion focused on the Eurex/KRX Link, which was established on 30 August 2010. The cooperation began with Eurex and KRX offering after-hours trading of KOSPI 200 options via this link. In April 2015, the Eurex KOSPI derivatives trading volume exceeded 100 million traded contracts. In November 2016, Mini-KOSPI futures were launched on the link. 2020 was a special year: Eurex became the only exchange to offer KOSPI derivatives after Korean trading hours. The introduction of Weekly KOSPI Options was the latest step in the expansion of the partner exchanges’ link. The new Weekly Options complement the regular KOSPI 200 Options, which is one of the most liquid options in the world. 

“We are very satisfied that the growth of the after-hours trading volume on the Eurex/KRX Link over the years has met our investors’ demand,” said Byungdoo Sohn.

Michael Peters added: “We are pleased to finally be able to visit our long-term partners here in Seoul to celebrate the success of our more than a decade long partnership with the KRX management and key clients. They have made the link model such an unprecedented success.”

And this development continues: in the first six months of 2022, the total KOSPI derivatives trading volume surged 160% year-on-year to close to 20 million contracts. Mini-KOSPI Futures trading volume also continued to grow, with an average of over 8.7K contracts traded daily in 2022. KOSPI 200 Futures have developed positively throughout 2022. In August 2022, they reached a monthly ADV of 12.1K, an increase of 88% as compared to August 2021. The night day ratio stands at 5.5%, which is the highest since launch. More than 5.7 million KOSPI Weekly Options contracts were traded within the first six months since its launch. In August, we saw a 390% increase in the ADV for KOSPI Weekly Options and a night day trading ratio of 9.9%.

Above all, the Eurex/KRX Link will continue to provide market participants with more trading and hedging opportunities on both exchanges as both are looking to further strengthen their strategic partnership.

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