KOSPI 200 Futures - Traders

[zhang2006]

RedDuke:

Please see the following, has it happened to you or not?

When the lead month contract of KOSPI200 Futures hits ±5% of the previous closing price for 1 minute, and the difference between the current price and the theoretical price is ± 3% or more, the trading of all contracts are halted for next five minutes. For the next ten minutes following the cooling-off period, orders are collected and then matched at a single price.

As well, the futures and options markets are automatically suspended if the stock market is halted. Trading in the stock market is halted for twenty minutes if the KOSPI falls 10% or more from the previous closing value and this continues for one minute or longer

 

[dont]

yup in 2008 when we had 10% moves, it worked well if you ask me

 

[RedDuke]

It never happened to me. This contract only became available to US traders at the end of 2008. I started looking at it in early 09.

 

[woodark]

In fact, trading KOSPI commission is very high at IB. Many South Korea native broker only one-third of the IB's commission. If you really love trading KOSPI, you may opening account in Korea. Most korea broker have English Homepage. You can go to Korea exchange website view membership status :http://eng.krx.co.kr/m9/m9_1/m9_1_8/m9_1_8_2/BHPENG09001_08_02.jsp
The following commission table from a Korean broker webpage

(´ÜÀ§ : ¿ø/°è¾à´ç)

±¸ºÐ Ç°¸ñ ¿Â¶óÀÎ ÀÏ¹Ý ÃÖÁ¾°Å·¡ ºñ°í
Áö¼ö¼±¹° ÁÖ°¡Áö¼ö(KOSPI) 0.0015% ÀϹݼö¼ö·áÀû¿ë Á¤·ü (kospi futures only 0.0015% IB is 0.004%)
OPTION¿É¼Ç ÁÖ°¡Áö¼ö(KOSPI) 0.075% ÀϹݼö¼ö·áÀû¿ë Á¤·ü (options only 0.075%.ib is 0.2%)

 

[zhang2006]

Wow, that's a huge difference.

But since I'm in US, I don't feel safe if I open an account oversea.

Quote from woodark:

In fact, trading KOSPI commission is very high at IB. Many South Korea native broker only one-third of the IB's commission. If you really love trading KOSPI, you may opening account in Korea. Most korea broker have English Homepage. You can go to Korea exchange website view membership status :http://eng.krx.co.kr/m9/m9_1/m9_1_8/m9_1_8_2/BHPENG09001_08_02.jsp
The following commission table from a Korean broker webpage

(��� : ��/����)

���� ǰ�� �¶��� �Ϲ� ����ŷ� ���
���� �ְ����(KOSPI) 0.0015% �Ϲݼ������ ��� (kospi futures only 0.0015% IB is 0.004%)
OPTION�ɼ� �ְ����(KOSPI) 0.075% �Ϲݼ������ ��� (options only 0.075%.ib is 0.2%)

 

[woodark]

There are many foreign broker on KRX list.like newedge,etrade.There are members, but IB is not a KRX members.Acctually maybe IB just lend one of members seats for trading kospi. So this is why IB commission is very high.You also could choose big native korea broker.Like samsung futures,nhfutures.why you think Ib is safe,do you remember REFCO.

 

[apex944]

I read this entire thread and also Googled for info.... but I can not find anyone besides IB that offers the KOSPI. Are there others?

Thx
Bill

 

[dont]

Quote from woodark:

In fact, trading KOSPI commission is very high at IB. Many South Korea native broker only one-third of the IB's commission. If you really love trading KOSPI, you may opening account in Korea. Most korea broker have English Homepage. You can go to Korea exchange website view membership status :http://eng.krx.co.kr/m9/m9_1/m9_1_8/m9_1_8_2/BHPENG09001_08_02.jsp
The following commission table from a Korean broker webpage

(´ÜÀ§ : ¿ø/°è¾à´ç)

±¸ºÐ Ç°¸ñ ¿Â¶óÀÎ ÀÏ¹Ý ÃÖÁ¾°Å·¡ ºñ°í
Áö¼ö¼±¹° ÁÖ°¡Áö¼ö(KOSPI) 0.0015% ÀϹݼö¼ö·áÀû¿ë Á¤·ü (kospi futures only 0.0015% IB is 0.004%)
OPTION¿É¼Ç ÁÖ°¡Áö¼ö(KOSPI) 0.075% ÀϹݼö¼ö·áÀû¿ë Á¤·ü (options only 0.075%.ib is 0.2%)

A photocopy of Investor Registration Certificate (IRC) issued by Ministry and Finance of Economy of Korea, with valid “ certified true copy ” stamp on it. If you do not have IRC, a copy of business registration document issued by a valid governmental authority can work as a substitution.

I think this is what puts most people off?

How hard is this to do?

 

[woodark]

Quote from dont:

A photocopy of Investor Registration Certificate (IRC) issued by Ministry and Finance of Economy of Korea, with valid ?certified true copy ?stamp on it. If you do not have IRC, a copy of business registration document issued by a valid governmental authority can work as a substitution.

I think this is what puts most people off?

How hard is this to do?

Believe me,all your need just a passport!Ask international sales team of korea native broker.They well help you.

 

[woodark]

Quote from apex944:

I read this entire thread and also Googled for info.... but I can not find anyone besides IB that offers the KOSPI. Are there others?

Thx
Bill

Bill,this is why IB taken 0.4% a roundtrip when you trading KOSPI options.If your trade 3 RT a day your have to pay 1.2% of your trading value to IB. It's will be 24%(20*1.2%) if your trading kospi one month.In other words, you have to earn 24% in order to keep the cost of commision to pay IB.As a daytrader,it's a disaster.