CME Group and Korea Exchange to sign electronic trade agreement For KOSPI 200

24 Oct 2007 email

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CME Group and Korea Exchange (KRX) have agreed a deal that will see KOSPI 200 futures contract to be listed on CME Globex, beginning in 2008.

The terms of the proposed five-year agreement will include the creation of a telecom hub in Seoul and would mark the first time KRX has embarked on a third-party agreement for its KOSPI 200 contract.

“The addition of the Korea Exchange's KOSPI 200 contract onto CME Globex will be an important part of our continued global expansion,” said CME Group executive chairman Terry Duffy. “CME Globex is the one trading platform that provides market users with access to all of the major asset classes. The addition of the KOSPI 200 futures will offer yet another key market to our electronic trading customers worldwide.”

“The introduction of these contracts to trading represents a new stage in developing the Russian market in fixed income instruments as in essence futures on federal bonds are derivatives on long-term interest rates.”

Evgeny Serdyukov, director of F&O at RTS