Settlement Information

Eurex Clearing facilitates the transfer of settlement information to KRX through a dedicated technical connection between the two exchanges. The following describes the information that the exchanges require and the reporting for Eurex members:

• To facilitate the transfer of settlement information for expired positions in the Eurex KOSPI Product, Eurex members are required to enter the following information into the free-text field TEXT:
  
  • a 3-digit KRX member ID and
  • at least 1 character of a maximum 9 character identification number.
  
  
• At the end of a trading day, Eurex Clearing settles with a Final Settlement Price which is equal to the Daily Settlement Price for the KOSPI 200 Options calculated at the end of the trading session of the same trading day at KRX. Delivery instructions are then created for all expired positions in the Eurex® system.
  
  
• Eurex Clearing creates net positions based on the identification number entered into the free-format text field TEXT.
  
  
• Eurex provides KRX with data netted on the basis of the identification number and paired through an algorithm developed by Eurex Clearing. The file to be transferred by Eurex to KRX contains the following settlement information for each identification number:
  
      (1) Date and time of execution
  
      (2) Eurex Clearing member
  
      (3) Eurex member
  
      (4) KRX member ID and identification number (from free-text field 'Text')
  
      (5) Product
  
      (6) Option class
  
      (7) Expiration
  
      (8) Strike
  
      (9) Buy/sell
  
      (10) Settlement price
  
      (11) Quantity
  
      (12) Unique ID number for each pair
  
  
• The paired positions are transferred via KRX to the designated KRX members depending on the KRX member ID entered in the free-format text field TEXT by the Eurex members.
  
  
• The corresponding KOSPI 200 Option positions are then entered into the KRX system via a block trading functionality by the respective KRX members. Net positions can only be accepted or rejected completely.
  
  
• Eurex Clearing receives detailed information regarding position acceptance/rejection from KRX which is made available to all Eurex members in a daily report, KRX Position Report (CB430).