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Eurex, Europe’s largest derivatives exchange, and the Korea Exchange (KRX), a leading Asian exchange, have received strong commitment and support from major market participants for the launch of their joint Eurex/KRX Link on 30 August.
This Link comprises a cooperation to trade and clear options on Korea’s blue-chip index KOSPI 200 on Eurex during European and North American trading hours.
Currently, Eurex and KRX are jointly preparing the launch of daily futures on KOSPI 200 Options (the Eurex KOSPI Product) at Eurex and have been in an extensive member consultation process since the beginning of 2010. Fifteen KRX members have indicated that they will be ready to trade the Eurex KOSPI Product during the course of 2010, thereof eight from day one. On the Eurex side, another 16 members expressed interest to execute business for KRX members.
- Among the interested Eurex and KRX member firms are:
- Daewoo Securities Co., Ltd.
- Deutsche Securities Korea Co.
- Hana Daetoo Securites, Ltd.
- Hyundai Securities Co., Ltd.
- Korea Investment & Securities Co., Ltd.
- Newedge Financial Hong Kong Limited, Seoul Branch Samsung Futures Inc.
- Tong Yang Securities Inc.
ABN AMRO Clearing (formerly known as Fortis Clearing) Deutsche Bank AG Goldman Sachs International Interactive Brokers MF Global Morgan Stanley Newedge Group RBS Global Banking & Markets Additionally, IMC and Archelon have signaled their interest to actively quote as market makers from day one.
Through this cooperation, for the first time KOSPI 200 Options will be available after Korean trading hours worldwide. Both partners believe that the cooperation will increase the liquidity and efficiency of the Korean market.
For Eurex customers, it will be an extension of the global Eurex product suite by offering access to the most liquid Asian index product.
