Seoul: The Korea Exchange (KRX), the country's bourse operator, announced on Monday the launch of its own overnight market for local financial derivatives, set to open later in the day. This strategic move is designed to enhance KRX's standing in the global financial market by expanding trading hours and product offerings.
According to Yonhap News Agency, the overnight trading session will feature a total of 10 derivatives products, available for 12 hours from 6 p.m. to 6 a.m. This initiative marks a significant expansion from the previous arrangement where only five products, namely KOSPI 200 futures, mini-KOSPI 200 futures, KOSPI 200 options, KOSPI 200 weekly options, and U.S. dollar futures, were traded overnight on Eurex with trading hours from 6 p.m. to 5 a.m.
The new overnight market will include five additional products: KOSDAQ 150 futures, mini-KOSPI 200 options, KOSDAQ 150 options, 3-year Treasury futures, and 10-year Treasury futures. This expansion is expected to attract more global investors, providing them with a broader range of derivatives to trade during extended hours.