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.
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.
|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).|
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.)