Quotations

Government Bond Market accepts limit orders only. The quotation quantity unit is KRW 10,000 of face value. The trading quantity unit is KRW 1 bil. The quotation price unit is KRW 1 for bonds with longer than ten years to maturity, KRW 0.5 with longer than 2 years but less than ten years, and KRW 0.1 with less than 2 years to maturity.

Types of Quotations

Government Bond Market has two types of quotations to support the market-making of government bond primary dealers; market-making quotations and market-taking quotations. This classification of quotations applies only to benchmark issues of KTBs, and not applied to non-benchmark issues of KTBs, MSBs and Deposit Insurance Fund Bonds.

< Types of Quotations in the Government Bond Market >
Type Details
Market-Making Quotations Two-way Market-Making Quotations Buying and selling quotations placed by a KTB primary dealer at the same time to satisfy the market-making obligation.
One-way Market-Making Quotations Buying or selling quotations placed by a government bond dealer (including general dealers).
Trading Quotations
(one-way)

Buying or selling quotations with conditions such as FOK, IOC, or FAS* placed by the government bond dealers (including general dealers).


FOK: Fill or Kill (Automatically cancelled if the total amount is not matched.)


IOC: Immediate or cancel (Remaining amount is automatically cancelled after matching of those amount that are available.)


FAS: Fill and Store (Remaining amount is staying in the order book after matching of those amount that are available.)