Clearing Procedures

The daily futures on the KOSPI 200 Option will be traded at Eurex through Eurex Members and will initially be cleared at Eurex Clearing for daily settlement (of profits/losses). Eurex Clearing Members will need to facilitate variation margin payments in Korean Won (KRW) and therefore will need to establish their own account at Shinhan Bank or an account with a corresponding agent in Korea.

Settlement information, which will be required to open the respective KOSPI 200 Options positions in the KRX system, will be transferred from Eurex Clearing to KRX after each trading day. KRX will transfer the settlement information to the respective KRX member for entry of the respective KOSPI 200 Options in the KRX system via the OTC block trade functionality at KRX prior to the market opening at KRX.