CME Group, KRX Announce After-hours Access to US Dollar Futures Contract on CME Globex
SEOUL, South Korea and CHICAGO, Oct. 28, 2014 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, and the Korea Exchange Inc. (KRX), a fully-integrated capital marketplace in Asia leading market innovation and supporting creative economy, today announced that effective December 8th, KRX's US Dollar Futures contract will be hosted after-hours on the CME Globex electronic trading platform, providing international market participants expanded access to the Korean markets.
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"The addition of KRX's US Dollar Futures contract on CME Globex is an important part of our continued global expansion, and this will enable their products to benefit from the speed, reliability and transparency of our industry-leading electronic trading platform," said Phupinder Gill, Chief Executive Officer of CME Group.
"This is a significant achievement, and highlights the success of our partnership with KRX. We look forward to working more closely with them in providing market participants access to round the clock risk management products," said William Knottenbelt, Senior Managing Director, International, CME Group.
"The launch of this after-hours trading of US Dollar Futures on CME Globex will be another big step forward for KRX to internationalize the Korean Won cash and futures markets and globally expand its customer base," said Kyungsoo Choi, Chairman and CEO of KRX. "In this regard, we are pleased that we can provide this enhanced 24-hour risk management tool to customers and the opportunity of a new revenue source to members."
According to the Futures Industry Association's Annual Volume Survey 2013, KRX's US Dollar Futures is the 7th most traded FX futures contract in the world last year, with 51.8 million contracts traded. This US Dollar Futures contract is the second KRX contract to be hosted on CME Globex. In 2009, CME Group and KRX announced after-hours access to KOSPI 200 Futures on CME Globex.
For additional information about KRX's US Dollar Futures contract on CME Globex, visit http://eng.krx.co.kr/m3/m3_3/m3_3_4/m3_3_4_1/UHPENG03003_04_01.html
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex® electronic trading platform and its trading facilities in New York and Chicago, and through its London-based CME Europe derivatives exchange. CME Group also operates one of the world's leading central counterparty clearing providers through CME Clearing and CME Clearing Europe, which offer clearing and settlement services across asset classes for exchange-traded contracts and over-the-counter derivatives transactions. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME, Globex and Chicago Mercantile Exchange are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are registered trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. KCBOT, KCBT and Kansas City Board of Trade are trademarks of The Board of Trade of Kansas City, Missouri, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
About KRX
Korea Exchange Inc., established in January 2005 through the merger of the Korea Stock Exchange (KSE), the Korea Futures Exchange (KOFEX), the KOSDAQ Market, and the KOSDAQ Committee, is the sole exchange in the Republic of Korea. The securities and derivatives markets of former exchanges are now business divisions of Korea Exchange: the Stock Market Division (KOSPI Market Division), KOSDAQ Market Division and Derivatives Market Division. On July 1, 2014, KRX launched KONEX market to foster the growth of start-up companies by lowering the entry barrier into the regulated market.
KRX is a comprehensive securities market that meets the wide-ranging demands of investors with a diverse line-up of products extending from traditional securities such as stocks and bonds to derivatives, exchange traded funds (ETFs), equity linked warrants (ELWs), real estate investment trusts (REITs) and ship investment companies. In particular, it maintains low transaction costs by integrating the management of the securities and derivatives markets and provides investors with efficient means to hedge risks and manage assets.
At the end of 2013, 1,831 companies (including 15 foreign companies) were listed on the KOSPI, KOSDAQ and KONEX Market in total. The annual trading value reached USD 1,284.6 billion, making KRX 10th world's largest stock exchange. In addition, KRX is one of the largest derivatives exchanges with annual trading volume of 820.7 million contracts.
Korea Exchange, KRX, KOSPI and KOSPI 200 are registered trademarks of Korea Exchange Inc. Further information about KRX and its products can be found at http://eng.krx.co.kr/index.html.
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SOURCE CME Group
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