Eurex and KRX Expand Contracts Traded Around-the-Clock11.17.2021
- Eurex is the only after-hours trading venue for KOSPI derivatives
- Joint link will be extended with KOSPI 200 Weekly Options
- Launch scheduled for first quarter of 2022
Eurex and the Korea Exchange KRX will expand their tradable product range with Weekly Options on the Korean benchmark index KOSPI 200. With weekly expirations on one of the world’s most heavily traded index options contracts, the two exchanges are expanding their around-the-clock ecosystem for KOSPI derivatives. Thereby, both exchanges emphasize once again their decade-long commitment to connecting markets globally.
Expanding the around-the-clock ecosystem for KOSPI #derivatives: #Eurex & the Korea Exchange KRX are adding Weekly #Options on the Korean benchmark #index #KOSPI200, emphasizing global market connectivity again. Read more on the launch in Q1 of 2022 here: https://t.co/cxubmIEa9O pic.twitter.com/0BhSjKasrD
— Eurex (@EurexGroup) November 16, 2021
Both exchanges announced that trading in the new contract will start in the first quarter of 2022. The launch is of high strategic importance for KRX and Eurex. KOSPI 200 Options are among the three most heavily exchange traded index contracts globally. An average daily turnover in the Weekly Options of over 1 million contracts at KRX shows the high demand for weekly expiries. The ability to trade them outside the Korean trading hours gives investors greater flexibility and precision to customize short-term risk exposures in the Korean market.
Eurex is currently the only venue where international investors can access KOSPI derivatives outside the Korean trading hours and during European and North American trading hours.
Sohn Byungdoo, Chairman and CEO of KRX: “KOSPI 200 Weekly Options listed on the KRX derivatives market since September 2019 are one of the most actively traded derivatives products on KRX. I am very pleased that we will soon add KOSPI 200 Weekly Options on the KRX-Eurex link to meet investors’ needs for around-the-clock trading. We look forward to the additional liquidity this will add to the existing ecosystem of our joint link.”
Michael Peters, CEO of Eurex: “South Korea is one of the ten largest economies in the world. Therefore, we are proud to further expand our ecosystem for Korean derivatives together with our partner KRX. We thus enable investors, whether in Asia, the USA or Europe, to manage their investments in this highly important market not only around the clock, but also on very short-term exposure.”
The upcoming product listing is the latest step in the expansion of the partner exchanges’ link which started in August 2010. The new Weekly Options complement the regular KOSPI 200 Options, of which over 277 million contracts have been traded on the link since 2010. Further products tradable on the link are KOSPI 200 Futures, Mini-KOSPI 200 Futures, and the recently launched USD/KRW Futures. It is expected that CFTC approval will be granted for the KOSPI 200 Futures contracts on the Eurex/KRX link from Q1 2022 to allow access for U.S. investors.
The build-up of exposures by the collapsed US family office can be seen in EMIR data.
Coinbase Prime is starting down the road of being able to offer crypto prime financing.
Founding members include Citadel Securities, Flow Traders, Jane Street Capital, BlackRock and MarketAxess.
Firms are having to find new sources of financing or reduce positions.
ICE Futures Singapore was founded to connect regional and international participants in Asia.