KRX received a No-Action Letter for the KOSPI 200 Futures from the U.S. Commodity Futures Trading Commission (CFTC) on Nov 26 2008(Iocal time U.S.A.)
Futures & Options Guide
Stock Index Products_KOSPI 200 Futures
KOSPI 200 Futures
| Underlying Asset | KOSPI 200 Index | |
|---|---|---|
| Contract Size | KOSPI 200 Futures price times KRW 500,000 | |
| Contract Months | The four consecutive near months from the quarterly cycle(March, June, September and December) | |
| Trading Hours | 09:00 ~ 15:15(09:00 ~ 14:50 on the last trading day) | |
| Tick Size & Value | 0.05 point(KRW 25,000) |
|
| Last Trading Day | Second Thursday of the contract month | |
| Final Settlement Day | The following day of the last trading day | |
| Final Settlement | Cash | |
| Daily Price Limit | ±10% of the base price | |
Position Limit |
Individual | 5,000 contracts |
| Others | 10,000 contracts | |
| Circuit Breakers | When the lead month contract hits ±5% of the previous closing price for 1 minute, and the difference between the current price and the theoretical price is ± 3% or more, the trading of all contracts are halted for next five minutes. For the next ten minutes following the cooling-off period, orders are collected and then matched at a single price. As well, the futures and options markets are automatically suspended if the stock market is halted. Trading in the stock market is halted for twenty minutes if the KOSPI falls 10% or more from the previous closing value and this continues for one minute or longer. | |
| Listing date | May 3, 1996 | |
- The No-Action Letter issued by the CFTC states that they would not recommend enforcement action if KOSPI 200 Futures product is offered and sold in the United States. Accordingly, U.S. registered futures commission merchants (FCMs) are now allowed to accept orders for KOSPI 200 Futures from U.S. investors.
- Contents Manager :
- Derivatives Market Division/Equity Derivatives Development & Regulations/Seo Jae Ock(051-662-2799)
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