Eurex and the Korea Exchange have received 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, Kopsi 200, on Eurex during European and North American trading hours.
Currently, Eurex and KRX are jointly preparing the launch of daily futures on Kopsi 200 options at Eurex and have been in a member consultation process since the beginning of 2010.
Fifteen KRX members have indicated that they will be ready to trade the Eurex Kopsi product during the course of 2010, and of those 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; Deutsche Bank; Deutsche Securities Korea; Goldman Sachs Internationall Hana Daetoo Securites; Hyundai Securities; Interactive Brokers; Korea Investment & Securities; MF Global; Morgan Stanley; Newedge Financial Hong Kong, Seoul branch; Newedge Group; RBS Global Banking & Markets; Samsung Futures; Tong Yang Securities; and ABN Amro Clearing (formerly Fortis Clearing). Additionally, IMC and Archelon have signalled their interest to actively quote as market makers from day one.
Through this cooperation, for the first time Kopsi 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 Eurex product suite by offering access to the most liquid Asian index product.
