KOSPI 200 Futures - Traders

KRX exemption trading fee since November 1.But I cannot see any bulletins on IB website.why?

KRX has introduced temporary trading fee holidays (including clearing & settlement fee) through its board meeting to lessen the market participants' trading cost and to activate the capital market activities.

(1) Temporary fee holidays for the entire products listed on KRX
- Exemption period (in terms of transaction days): November 1 ~ December 29, 2011 (2 months, 43 transaction days)
- Fees to be exempted: Trading fee (including clearing & settlement fee)
* Please note that market making products (10-year KTB Futures, Single Stock Futures which were listed in December, 2009 (10 underlying stock issues), Mini-gold Futures) and KOSPI 200 Futures on CME Globex are not subject to the fee holidays.

(2) Extension of Fee Holidays for ETF
- Exemption period (in terms of transaction days): January 2 ~ December 28, 2012 (12 months, 251 transaction days
- Fees to be exempted: Trading fee (including clearing & settlement fee) for all the ETFs, excluding Leverage and Inverse ETFs

http://eng.krx.co.kr/coreboard/BHPE...&srchCate1=&curPage=1&bbsSeq=19931&secretYn=N
 
Quote from woodark:

KRX exemption trading fee since November 1.But I cannot see any bulletins on IB website.why?
More...

Incompetence, sloth and greed.
 
Quote from Roark:

Incompetence, sloth and greed.
More...

The greed made MF global fell.
The most critical is No Competitors fight with IB outside Korea local market.The result we pay triple commissions to IB compare Korea local brokerage.
 
Quote from woodark:

The greed made MF global fell.
The most critical is No Competitors fight with IB outside Korea local market.The result we pay triple commissions to IB compare Korea local brokerage.
More...

FWIW, we are not members of the exchange and the savings have not been passed on to IB (and that's an issue I have been addressing separately).

On another note, we have been having internal discussions on modifying our commission schedule in Korea. I'm hoping we can make an announcement soon.

However, before you do down the line that we are abusing clients, let me ask you the following question: Why do you think no other brokers are offering access into Korea?

If you can answer that question, you'll recognize the additional costs and risks that we are undertaking to offer the product are quite large. For starters, why don't you call up your bank and ask for a KRW/USD FX quote? Do you know the KRW is a restricted currency. That adds a little kink into the equation when you need to manage margin. Then think about the size of the pipes we need to manage (in duplicate) to service the amount of data coming up and downstream. There is a lot more to it.

Finally, let's assume we cut fees down by a third. Do you think we'll gain enough business to cover our costs? I'm sure you'd love that but if we can't make a profit offering the service, the service will not be offered.
 
I have to say I am grateful that I can get access to the K200 through IB as it is by far the most liquid market in this time zone (Australia). And I'm not even sure that foreigners (people outside Korea) do get cheaper commissions.

I , for example, got into discussions with Daewoo Securities who have recently released an English trading platform for the KSE (see http://www.koreaherald.com/business/Detail.jsp?newsMLId=20110801000715) and although they are negotiable I would have had to trade several hundred contracts per month to get cheaper commissions. Some guys on here who do a hundred plus round trips a day would may be interested, superficially the platform looked OK but who knows what is it like in action.

Anyway Def's argument has merit and I look forward to any announcements IB may have on commission structures in the near future..
 
Quote from Roark:

Incompetence, sloth and greed.
More...


That's out of line, I don't think Korea is IB's biggest market. You can't expect the same level of service that you get on American products, that said, Service on Korea is fine.
 
Quote from dont:

That's out of line, I don't think Korea is IB's biggest market. You can't expect the same level of service that you get on American products, that said, Service on Korea is fine.
More...

You're completely right, it's out of line. IB provides access to the KSE out of the goodness of its heart as its way giving back to the community. It is purely a non-profit, charitable service provided by IB for its traders. You think IB makes a profit on any of this? No way. In addition, I very much appreciate the inaccurate and misleading information provided by IB's calendars at http://individuals.interactivebrokers.com/en/p.php?f=calendars&ib_entity=llc

Now if IB could just crank out some more buggy and poorly tested software, I would be overwhelmed with joy. Who needs an accurate calendar? I like to guess whether IB is screwing up with providing market data or whether trading in KRW and/or KSE is actually closed.
 
Eugene Futures
www.egfutures.com
Hyundai Futures Corporation
www.hyundaifutures.com
KB Futures
www.kbfutures.co.kr
KEB Futures
www.kebf.com
KR Futures
www.krfutures.co.kr
NH Futures
www.nhfutures.co.kr
PB Futures
www.pbfutures.co.kr
Samsung Futures Corporation
www.ssfutures.com
Tongyang Futures
www.tyfutures.co.kr
Woori Futures Corporation
www.futures.co.kr

def:All listed korea native broker above also provide krw/usd exchange service and no addtional fees charged if you are a foreigner opened account.Your could ask them by yourself.Why IB need pay more cost!

lejmorro:you can found options commission is 0.075%,futures commission is 0.0015% on some of broker's website.And do not need trade several hundred contracts per month.




Quote from def:

FWIW, we are not members of the exchange and the savings have not been passed on to IB (and that's an issue I have been addressing separately).

On another note, we have been having internal discussions on modifying our commission schedule in Korea. I'm hoping we can make an announcement soon.

However, before you do down the line that we are abusing clients, let me ask you the following question: Why do you think no other brokers are offering access into Korea?

If you can answer that question, you'll recognize the additional costs and risks that we are undertaking to offer the product are quite large. For starters, why don't you call up your bank and ask for a KRW/USD FX quote? Do you know the KRW is a restricted currency. That adds a little kink into the equation when you need to manage margin. Then think about the size of the pipes we need to manage (in duplicate) to service the amount of data coming up and downstream. There is a lot more to it.

Finally, let's assume we cut fees down by a third. Do you think we'll gain enough business to cover our costs? I'm sure you'd love that but if we can't make a profit offering the service, the service will not be offered.
More...
 
Thank you Woodark for that list of Korean brokers, very generous of you.. I've looked at a few and Eugene looks promising .. Do you recommend any from your own trading experience re: their platform, accounting etc.
 
Competition is fierce between the Korea brokers .(maybe this is the reason IB have branch in japan,hongkong,chinamainland but no branch in korea)So most of korea native broker have internation sales team and english version website,platform.They are very welcome foreigners open account.
I talked a salesman from nhfutures a few months ago.He said the NHfutures platform Hts Xcalbiur could connect with tradestation.
And he told me commission trading option only 0.07%.
http://www.nfutures.co.kr/eng_index.jspx
 
You must log in or register to reply here.
Back
Top