KRX KOSPI 200 Index futures

From MarketsWiki
Jump to: navigation, search
Vela-dark@2x.png

KRX KOSPI 200 Index futures trade and futures options on the Korea Exchange (KRX). They have been trading since May 3, 1996 and July 7, 1997, respectively.


KRX KOSPI 200 Index futures
Exchange Korea Exchange
Settlement Cash settled
Contract Size KOSPI 200 Index times KRW 500,000
Pricing Unit KRW 500,000
Tick Value KRW 25,000 (0.05 point)
Contract Months The four consecutive near months from the quarterly cycle (March, June, September and December)
Last Trading Day Second Thursday of the contract month
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 09:00 ~ 15:15(09:00 ~ 14:50 on the last trading day)
Ticker Symbol N/A N/A
Price Limits N/A 10% of the previous closing price
 
KRX KOSPI 200 Index options
Trade Unit KOSPI 200 Index times KRW 500,000
Point Value KRW 100,000
Tick Value 0.05 point(KRW 5,000) for 3 point or more of premium

0.01 point(KRW 1,000) for less than 3 point of premium

Option Months The three consecutive near months plus one nearest month from the quarterly cycle (March, June, September and December)
Strike Prices Upon the admission of the options, at least 13 strike prices(six are in-the-money, one is at-the-money and six are out-of-the-money) shall be set at interval of 2.5 points for the three consecutive near-term month contracts

Upon the admission of the options, at least 7 strike prices(three are in-the-money, one is at-the-money and three are out-of-the-money) shall be set at interval of 5.0 points for the next quarterly month contract

Exercise Style European
  No Open Outcry Electronic
Trading Hours N/A 9:00 ~ 15:15 (9:00 ~ 14:50 on the last trading day)
Ticker Symbol N/A N/A
Price Limits N/A When the lead month contract of KOSPI200 Futures 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.

Notes

Resources

Korea Exchange KOSPI 200 Futures

Korea Exchange KOSPI 200 Options

References