Overview Products KOFEX Home > Investment Guide > Derivatives > Index Products Index Products Interest Rate Products Currency Product Commodity Product  Korea Stock Price Index 200 The underlying index for the stock index futures and options market is the KOSPI 200. This index is composed of 200 leading stocks and reflects the performance of the KSE market. The constituent stocks are selected based on the individual stocks' market value, liquidity and status in its corresponding industry  KOSPI 200 Futures and Options These are the products that have been transferred from KSE to KOFEX, starting 2004. On KSE, the KOSPI 200 futures and options markets were established in May 1996 and July 1997, respectively. The KOSPI 200 is a market value-weighted index composed of 200 underlying stocks representing over 90 percent of total market capitalization. The base date is 3 January 1990 and the base index is 100. The index is calculated as follows: ---------------------------Current aggregate market value of component stocks KOSPI 200 = ───────────────────────────────────── × 100 -----------------------------Base aggregate market value of component stocks  KOSDAQ Index 50 Futures & Options The KOSDAQ Index 50 is a market value weighted index for the core fifty issues that represent KOSDAQ. The index can be used as the underlying asset for financial derivatives and as a new benchmark index for institutional investors. The base period is 4 January 1999 and the base index is 100. The calculation is: ---------------------------------Current aggregate market value KOSDAQ Index 50 ＝ ──────────────────────── × 100 ---------------------------------Base aggregate market value of [Contract Specifications for KOSDAQ Index 50 Futures and Options]     KOSDAQ Index 50 Futures KOSDAQ Index 50 Options Underlying Index KOSDAQ Index 50 KOSDAQ Index 50 Contract Size KOSDAQ Index 50 value ×200,000 won KOSDAQ Index 50 value ×200,000 won Price Quotation index point index point Minimum Price Fluctuation 0.05 point 0.05 point   tick value = 200,000 won ×0.05 = 10,000 won tick value = 200,000 won ×0.05 = 10,000 won Contract Months Mar, Jun, Sep, Dec consecutive three months including spot month and one month from quarterly cycle Number of Contracts Listed four contract months four contract months Price Change Limit 10% of previous closing price none Daily Settlement Price closing of trading day closing value of last trading day Last Trading Day 2nd Thursday of contract month 2nd Thursday of contract month Settlement T+1 T+1 Final Settlement Price KOSDAQ Index 50 closing value of the last trading day KOSDAQ Index 50 closing value of the last trading day Circuit Breakers when the lead month contract hits ±7 percent of the previous day’s closing price for 1minute halted if trading on KOSDAQ or futures market is halted   Contracts Comparison of Derivatives Commodities (Unit:contracts)   KTB Futures USD Futures USD Options CD Interest Rate Futures Gold Futures Underlying Asset 3-year KTB with 8% coupon USD USD 3-month CD Fine gold bar (99.99% pure) Trading Unit 100 million won US$50,000 US$10,000 KRW500 million 1kg (1,000g) Price Quotation 100 won nominal value KRW/USD KRW/USD 100 - R*(*annualized yield) KRW/g Min. Price Fluctuation 0.01 or valueofW10,000/tick 0.1 or value of W5,000/tick 0.1 or value of W1,000/tick 0.01 or valueofW12,500/tick 10 or value of W10,000/tick Contract Months MarJunSepDec Consecutive 3 months: spot month and Mar, Jun, Sep, Dec Consecutive 3 months: spot month and Mar, Jun, Sep, Dec Mar Jun Sep Dec 6 even-numbered months Contracts Listed two contract months six contract months four contract months four contract months six contract months Preliminary Margin 2,000,000 won 2,500,000 won Seller: differ by premiumBuyer: premium 1,000,000 won 1,000,000 won Daily Price Limit None Position Limit May be adopted if the KRX deems it necessary Final Settlement Day 3rd Wednesday of the contract month 3rd Wed of contract month Last business day of contract month Last Trading Day First trading day preceding final settlement day Second trading day preceding the final settlement day Settlement Cash settlement Delivery settlement     Options on KTB Futures UnderlyingIndex Korea Treasury Bond futures Trading Unit 1KTB futures contract PriceQuotation won (KRW) Min. PriceFluctuation 0.01 (representing a value of 10,000 won) ContractMonths First 3 consecutive contract months and 1 month in quarterly cycle: Mar, Jun, Sep, Dec Daily PriceLimit None Position Limit Adopted if the KRX deems it necessary Last TradingDay One business day before first Wed of each contract month (if last trading day is in previous month, the last trading day shall be the first trading day of the contract month.) SettlementMethod Delivery settlement