Eurex, the leading derivatives exchange, and Korea Exchange (KRX, www.krx.co.kr), a leading Asian exchange, today announced a wide-ranging product cooperation in trading and clearing derivatives. Andreas Preuss, CEO of Eurex, and Jung-hwan Lee, Chairman & CEO of KRX, signed an agreement in Seoul. According to this, KRX will grant Eurex the right to list, trade and clear Daily Futures on KOSPI 200 Options worldwide after Korean trading hours. Eurex as Europe's largest derivatives exchange intends to launch its daily futures on this option on the Eurex platform in January 2010.
Mr. Jung-hwan Lee, Chairman & CEO of KRX, said "Our agreement with Eurex today is part of our strategy to extend the global reach of KRX markets and furthermore, it is in line with KRX vision of becoming a world-class premier exchange. Through this cooperation, we will provide round the clock trading opportunities in KOSPI 200 Options market which is already the most liquid exchange-traded derivative product in the world."
Andreas Preuss, CEO of Eurex, said: "This cooperation is another milestone in our strategy to offer our customers access to all major asset classes and all major markets. The Eurex listing will enable international investors and traders to access the KOSPI 200 Options market during core European trading hours."
Both partners believe that the cooperation will increase the liquidity and efficiency of the Korean market. This new extended market for KOSPI 200 Options will provide existing market participants trading and hedging opportunities for KRX positions after Korean trading hours and a possibility to take positions as the global market fluctuates.
KRX and Deutsche Börse signed a Memorandum of Understanding (MoU) on 30 January 2007. Among other activities, the MoU initiated a joint working group to explore cooperation in the derivatives market. Today's announcement is one of the first joint projects of both partners.
About Eurex
The international derivatives exchange Eurex, jointly owned by Deutsche Börse AG and SIX Swiss Exchange AG, organizes markets globally. Eurex is home to the Euro zone interest rate and equity index benchmark derivatives. Eurex's portfolio of markets includes International Securities Exchange, the world's largest equity options exchange. The ECNs Eurex Repo and Eurex Bonds round out Eurex's offering for repo and bond trading. In addition, Eurex provides an automated and integrated clearing house, Eurex Clearing AG. Eurex's global liquidity network comprises around 400 direct exchange members in 22 countries worldwide.
For more information about Eurex, visit www.eurexchange.com.
About Korea
Exchange Korea Exchange Inc. (KRX) is the main operator of cash and derivatives market in Korea and it is also responsible for clearing and settlement facilities in those respective markets. KRX provides its customers with the full access to both cash and derivatives markets, and clears and settles all transactions on its markets as one-stop service. As a leading derivatives exchange in Asia, KRX offers diverse product group including individual equities, stock index, bond/interest rate, foreign currency and commodities. The KOSPI 200 Index is a market capitalization weighted index that consists of 200 blue-chip stocks listed on the KRX stock market. It represents the benchmark indicator of the Korean capital market. According to the 2007 statistics compiled by Futures
Industry Association, KOSPI 200 option is the most liquid exchange-traded derivatives product in the world in terms of trading volume with 2.7 billion contracts.
Korea Exchange, KRX, KOSPI and KOSPI 200 are registered trademarks of Korea Exchange Inc. Further information about KRX and its products can be found at http://www.krx.co.kr/
Mr. Jung-hwan Lee, Chairman & CEO of KRX, said "Our agreement with Eurex today is part of our strategy to extend the global reach of KRX markets and furthermore, it is in line with KRX vision of becoming a world-class premier exchange. Through this cooperation, we will provide round the clock trading opportunities in KOSPI 200 Options market which is already the most liquid exchange-traded derivative product in the world."
Andreas Preuss, CEO of Eurex, said: "This cooperation is another milestone in our strategy to offer our customers access to all major asset classes and all major markets. The Eurex listing will enable international investors and traders to access the KOSPI 200 Options market during core European trading hours."
Both partners believe that the cooperation will increase the liquidity and efficiency of the Korean market. This new extended market for KOSPI 200 Options will provide existing market participants trading and hedging opportunities for KRX positions after Korean trading hours and a possibility to take positions as the global market fluctuates.
KRX and Deutsche Börse signed a Memorandum of Understanding (MoU) on 30 January 2007. Among other activities, the MoU initiated a joint working group to explore cooperation in the derivatives market. Today's announcement is one of the first joint projects of both partners.
About Eurex
The international derivatives exchange Eurex, jointly owned by Deutsche Börse AG and SIX Swiss Exchange AG, organizes markets globally. Eurex is home to the Euro zone interest rate and equity index benchmark derivatives. Eurex's portfolio of markets includes International Securities Exchange, the world's largest equity options exchange. The ECNs Eurex Repo and Eurex Bonds round out Eurex's offering for repo and bond trading. In addition, Eurex provides an automated and integrated clearing house, Eurex Clearing AG. Eurex's global liquidity network comprises around 400 direct exchange members in 22 countries worldwide.
For more information about Eurex, visit www.eurexchange.com.
About Korea
Exchange Korea Exchange Inc. (KRX) is the main operator of cash and derivatives market in Korea and it is also responsible for clearing and settlement facilities in those respective markets. KRX provides its customers with the full access to both cash and derivatives markets, and clears and settles all transactions on its markets as one-stop service. As a leading derivatives exchange in Asia, KRX offers diverse product group including individual equities, stock index, bond/interest rate, foreign currency and commodities. The KOSPI 200 Index is a market capitalization weighted index that consists of 200 blue-chip stocks listed on the KRX stock market. It represents the benchmark indicator of the Korean capital market. According to the 2007 statistics compiled by Futures
Industry Association, KOSPI 200 option is the most liquid exchange-traded derivatives product in the world in terms of trading volume with 2.7 billion contracts.
Korea Exchange, KRX, KOSPI and KOSPI 200 are registered trademarks of Korea Exchange Inc. Further information about KRX and its products can be found at http://www.krx.co.kr/
