Eurex, a derivatives exchanges owned by Deutsche Börse and SIX Swiss Exchange, has entered into a deal with the Korean Exchange (KRX) for cooperation in clearing and trading derivatives.
The agreement allows Eurex to list, trade and clear daily futures on KOSPI 200 Options worldwide, after Koreran trading hours.
According to the exchanges, the ability to trade KOSPI 200 Options after hours will give market participants new trading and hedging opportunities, as they will be able to take positions in KRX instruments based on global market fluctuations. Eurex intends to list KOSPI 200 Options on its platform from January 2010.
“Our agreement with Eurex today is part of our strategy to extend the global reach of KRX markets,” said Jung-hwan Lee, chairman and CEO of KRX.
Today’s announcement stems from a memorandum of understanding signed by KRX and Deutsche Börse in January 2007, which included the formation of a joint working group to explore opportunities in the derivatives markets.