Kospi on steroids; Indian FX battle reaches crucial stage
November’s global derivatives trading volumes (see pages 42-48) were dominated, in sheer numbers terms, by the huge and surprising surge in Kospi 200 Options trading.
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Monthly volume soared above 400m contracts for the first time, even though war clouds are looming nastily above the Korean peninsula. That doesn’t seem to have frightened stockmarket investors. Quite the opposite – the market is on a tear. Cynics might suggest investors are calculating hostility with the North makes a financially burdensome reunification less likely.
Eurex had a good November, skipping above the 150m contract mark to take second place from National Stock Exchange of India. CME hugged Eurex a little behind, but CBOT overtook NYSE Liffe and Chicago Board Options Exchange in the contest for fifth place.
The roster of top...