Clearing Procedures

Eurex Clearing monitors the development of the product during the day. Intra-day margin calls are possible and are made in the Eurex Clearing member's standard currency (USD, CHF, GBP, EUR). At the end of the trading day, Eurex Clearing calculates a daily profit/loss based on the difference between the traded and settlement price (Variation Margin). The daily profit/loss calculation appears in the Eurex® system as premium. Resulting cash flows are paid respectively received in South Korean won (KRW). Therefore, South Korean won is integrated into the existing cash processing/reporting structure of Eurex Clearing. The payment deadline for KRW is 15:00 KST (7:00 or 8:00 CET).

Additionally, Eurex Clearing ensures the transfer of settlement information for KOSPI 200 Options to KRX at the end of each Eurex trading day. KRX transfers this information to the respective KRX member for entry of the respective KOSPI 200 Options into the KRX system via the OTC Block Trade facility prior to the market opening at KRX. Therefore, all open interest in the KOSPI 200 Options is consolidated at KRX.