Summary of trading rules of KOSPI200 Futures on Globexs
  Description
Trading days Monday ~ Friday
Trading hours KST: 18:00~05:00 on next day (CST: 03:00~14:00)
Matching engine CME Globex platform
Market Holiday KRX holidays or when CME Globex is closed
Price limit ±5% of base price (1/2 of price limit in the regular session)
Order type Limit order only(FOK, IOC)
Order correction Price or quantity or price and quantity at the same time
Order cancellation Order can be cancelled only if the entire quantity of order is cancelled.(to cancel partial quantity of order, quantity correction method may be used)
Messaging Policies KRX or CME may limit the amount of message traffic which might cause Globex or KRX system error.
Order quantity limit 100 contracts (1/10 of quantity limit in the regular session)
Order matching Method Individual auction at multiple-price
Publication of market data The price and quantity of best 5 quotes per bid and ask, but not including total quantity of bid/ask quotes
Trading Discretionary Halting only
suspension/halt Compulsory Halting (Circuit Breaker) not allowed
Settlement The open interests from Globex trade are offset together with the open interests of regular session on T+1 day
Open interests
Marking to market Marking-to-market after closing of regular session on T+1 day.
Base price Base price of regular session on the next trading day(T+1 day)
Contracts traded 7 contracts of KOSPI200 Futures (6 contracts Products if it is the expiry date of nearest month contract)
Trading unit 1 Contract
Tick size 0.05 Point (KRW 25,000)
Contract Value KOSPI200 Futures price x KRW 500,000
Multiplier 500,000
Delivery Month
  • March, June, September and December
  • four(4) series which expire within a year
  • two(2) series which expire after 1 ~ 2 years and
  • one(1) series which expires after 2 ~ 3 years
Final Settlement price Value of KOSPI200 index on the last trading date
Payment Deadline
  • Between KRX member and investor: 12:00 noon on T+2 day
  • Between KRX and Member: 16:00 on T+2 day
Trading Currency Korean Won
Miscellany
  • Basic deposit: Same as the regular session
  • Position limit: Same as the regular session

Method of placing an order for Globex trade is basically the same as the method of placing an order in the regular session of KRX. However, only the limit order is permitted for Globex trade, and the order may be affixed with FOK⑴ or IOC⑵ condition.

fn. 1)
Order affixed with Fill or Kill (FOK) condition means that unless the entire quantity of order is matched immediately, the order is to be cancelled.
fn. 2)
Order affixed with Immediate or Cancel (IOC) condition stands for executing any quantity of order that can be matched immediately and cancelling the unmatched quantity of order.
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