Eurex, the derivatives market owned by Deutsche Börse, has extended its direct market access (DMA) functionality to South Korea after obtaining consent from the national regulator.
Market participants based in South Korea can now access benchmark index futures, such as those based on the Euro STOXX 50, DAX and SMI indices, after the South Korean Financial Services Commission gave approval for Eurex to offer DMA access to market participants in Korea. The agreement also allows Korean market participants to trade daily futures on KOSPI 200 options after the local market has closed.
The decision was in part linked to the success of the already-established DMA link between Eurex and Korea Exchange (KRX).
“This is an exciting opportunity to admit additional customers to our robust and reliable network and offer them direct access to our diverse, highly liquid futures and options product suite,” said Michael Peters, member of the Eurex Executive Board.
Last week Eurex unveiled a deal with TAIFEX, Taiwan’s futures exchange, that will offer Europe-based traders the ability to trade and clear Taiwanese derivatives products, and forms part of Deutsche Börse’s new strategy of engaging further with Asia as outlined at the start of this year by CEO Reto Francioni.