Trading and Clearing Requirements
In order to be permissioned to trade the KOSPI 200 Options at Eurex,
Eurex members must fulfill certain requirements.
For Trading Members:
-
Submit the application form "Application for Participation for the Clearing of Eurex
KOSPI Daily Futures contracts" to confirm the Eurex member's relationship with at least
one KRX member. An agreement between the Eurex member and its KRX member must include
the obligation for the KRX member to establish the option position resulting from the
Eurex KOSPI Product in the KRX system. The registration form also includes the confirmation
of the Eurex member's awareness of pre-margining regulatory requirements in Korea and that
Eurex members agree to adhere to them. Registration forms will be available on the website
shortly.
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Enter a 3-digit reference number of the KRX member (KRX member ID) and at least 1 of the
maximum 9-character identification number (for the KRX member to identify the relevant account)
into the free-format field TEXT. The Eurex® system checks at order/quote entry that
- a relationship between the Eurex member entering the order/quote and the KRX member ID exists
- a minimum of 1 of the 9 characters for the identification number is entered
-
Authorize Eurex Clearing to transfer the settlement information per identification number to
the KRX members via KRX.
Further Requirements for Clearing Members:
- Additional product specific contribution to the clearing fund.
-
South Korean won account with Shinhan Bank in South Korea directly or provided by a
correspondent bank to settle cash obligations at Shinhan Bank.
-
Power of attorney for Eurex Clearing for all cash transactions resulting from the Eurex KOSPI
Product denominated in KRW.
For more information about the Eurex/KRX Link, please refer to the attached documents:
