- Trading system
The trading system for ETNs is almost the same as that for stocks or ETFs.
Trading system Trading hours Regular hours (09:00-15:30), Off-hours trading(07:30-08:30, 15:40-18:00) Quotation price unit KRW 5 Trading unit 1 share Price limit ±30% of the base price (The amount multiplied with multipliers in case of leveraged ETNs) Types of order Limit order, Market order, Limit-to-market-on-close order, Immediately executable limit order, and Best limit order
- Substitute Securities
- ETNs are designated as substitute securities that may be used to pay the margin instead of cash. ETNs for substitute securities are assessed at 70% of their value. ETNs under trading suspension for reasons corresponding to delisting or ETNs designated as the investment risk issues are not qualified for the substitute securities.
- Settlement System
- The settlement system for ETNs is the same as that for stocks. In other words, ETNs are settled on the second day from the trade execution date (T+2). ETNs in their entirety are deposited with a depository institution as in the case of ETFs, so that they can be delivered or received through account transfer.