Product Characteristics
The contract specifications of the Eurex KOSPI Product mirror those of the KOSPI 200
Options of KRX in general. As the Eurex KOSPI Product is set up as an option but
legally it is a futures contract, there are several unique characteristics which Eurex
members should be aware of:
- Product type is "option on index (OINX)".
- Product currency is South Korean won (KRW).
- Settlement type is "cash".
- Margining style is "futures".
- Series expire one day prior to the expiration on KRX.
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New series at Eurex are available in the Eurex trading session following
availability at KRX.
In addition, Eurex members should note the availability and restrictions regarding
certain functionalities and system messages:
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The over-the-counter (OTC) Block Trade and Multilateral Trade Registration facilities
as well as the Strategy WizardSM and all trade adjustment types are available.
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Exercise/assignment or submissions for give-up/take-up are not possible. Likewise trading of
OTC Flexible Options, automatic series generation and position transfers cannot be executed.
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Trade confirmations receive the transaction type 116 - "Position Close Due to Contract Expiration".
The information "the position expired" can be seen in the reports Position Detail (CB010) and
Position Summary (CB020).
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The end-of-day positions for the Eurex KOSPI Product are reported in the KRX Position Report
(CB430).
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The calculation of the settlement price for each options series takes place at 17:30 CET. The
distribution is via the VALUES API data stream like other settlement prices and the message
"End of Settlement Prices" will be distributed.
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The product is excluded from the End of Assignment process and further no "End of Assignment"
messages will be sent.
