Trading Hours

Trading hours of government bond market is from 09:00 to 15:30, and trading holidays include national holidays, Labor Day, every Saturday, one day at the end of the year, and other day deemed necessary by KRX.

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.)