KOFEX And KSE Waive Trading Fees Till The End Of 2004.

The Korea Futures Exchange (KOFEX) and the Korea Stock Exchange (KSE) both announce that trading fees are waived from November 8, 2004 until the end of 2004. This scheme is introduced to support Korean securities firms as well as FCMs experiencing diminished profits. Member firms are consequently expected to save exchange fees amounting to 31 billion won (27.5 million US dollars).

Fee reduction scheme in detail

1. Items

A. KSE

• Fixed fees for securities, equity index futures and options trading
• Service fee for ATS (Alternative Trading System) members

B. KOFEX

• All trading fees for all the products; KOSDAQ50 futures and options, KTB futures and options, 5TB futures, CD interest rate futures, MSB interest rate futures, US dollar futures and options and gold futures.

2. Period

• From November 8, 2004 till the end of 2004.
• The original fee structure will be reinstated from January 2, 2005.

3. Expected outcome: Reduction of 31 billion won

KSE	KOFEX	TOTAL
24.5 billion won	6.5 billion won	31 billion won