KRX KOSPI 200 Index futures
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[edit]
Resources[edit]
Korea Exchange KOSPI 200 Futures
Korea Exchange KOSPI 200 Options