USD – Korean Won Futures
South Korean Won – United States (USD-KRW) dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region as well as be a one stop shop for emerging market currencies.
The USD-KRW contract is relevant to the region as Korea is one of the large trade partners of UAE. South Korea is also one of the most industrialized nations in Asia and the prominent player in the Global Economy.
- USD-KRW is accessible from 7.00 AM- 11.55 PM UAE time
- Small contract size $50,000 suitable for traders and organizations with smaller exposures
- One of the only regulated platforms offering USD-KRW Futures in GCC
- UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
- Overlaps most trading zones including Europe and United States hence any news effecting the KRW markets lies within the time zone
- Ideal location for corporate organizations with exposure to hedge KRW as KRW usually quotes only in Asian hours
- Possible arbitrage opportunities with the large over the counter market for KRW in Asia
Contract Parameters Contract Symbols DUSDKRW Underlying US Dollar Contract Size USD 50,000 Trading Currency Korean Won (KRW) Settlement Currency US Dollars (USD) Price Quote KRW for 1 USD (e.g. KRW 1114.1 / 1114.2 Per 1 USD) Minimum Tick Size 0.1 KRW Tick Value 5000 KRW Trading Days Monday through Friday Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4) Trading Months Twelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading. Last Trading Day The preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Seoul, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Seoul New Contract Listing Business Day immediately following the Last Day of Trading Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency Final VM payment From Trading Currency to Settlement Currency Final Cash Settlement Price Basis Based on the USD-KRW fixing issued by KFTCC determined by SMBSL, issued between 9.00 AM and 3.30 PM Seoul Time Settlement basis Cash Daily Price Movement Limit No price limit (for the avoidance of ‘fat finger’ errors price band shall be 10 KRW from previous settlement price e.g. if previous settlement price is KRW 1114.1/US$ then the price band is from 1104.1 to 1124.1)) Maximum Order Size 500 lots for Banks and Institutions promoted by Banks Initial Margin based on SPAN The Initial Margin will be denominated in KRW and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/KRW to display Initial Margin Utilization in USD terms. Indicative VM Indicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/KRW Calendar Spread Benefit 100% Calendar Spread benefit Extra Margin At times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged Delivery Period Margin Not applicable Spot rate Shall be taken from available market data sources like Bloomberg and Reuters.
Product Contract Last trading date Expiry date Tender start date Tender end date Delivery start date Delivery end date Holiday DUSDKRW DUSDKRW-20170116 16-Jan-2017 16-Jan-2017 17-Jan-2017 17-Jan-2017 17-Jan-2017 17-Jan-2017 DUSDKRW DUSDKRW-20170213 13-Feb-2017 13-Feb-2017 14-Feb-2017 14-Feb-2017 14-Feb-2017 14-Feb-2017 DUSDKRW DUSDKRW-20170313 13-Mar-2017 13-Mar-2017 14-Mar-2017 14-Mar-2017 14-Mar-2017 14-Mar-2017 DUSDKRW DUSDKRW-20170417 17-Apr-2017 17-Apr-2017 18-Apr-2017 18-Apr-2017 18-Apr-2017 18-Apr-2017 DUSDKRW DUSDKRW-20170515 15-May-2017 15-May-2017 16-May-2017 16-May-2017 16-May-2017 16-May-2017 DUSDKRW DUSDKRW-20170619 19-Jun-2017 19-Jun-2017 20-Jun-2017 20-Jun-2017 20-Jun-2017 20-Jun-2017 DUSDKRW DUSDKRW-20170717 17-Jul-2017 17-Jul-2017 18-Jul-2017 18-Jul-2017 18-Jul-2017 18-Jul-2017 Constitution Day 17/Jul/2017 , ( Observance ) DUSDKRW DUSDKRW-20170814 14-Aug-2017 14-Aug-2017 15-Aug-2017 15-Aug-2017 15-Aug-2017 15-Aug-2017 DUSDKRW DUSDKRW-20170918 18-Sep-2017 18-Sep-2017 19-Sep-2017 19-Sep-2017 19-Sep-2017 19-Sep-2017 DUSDKRW DUSDKRW-20171016 16-Oct-2017 16-Oct-2017 17-Oct-2017 17-Oct-2017 17-Oct-2017 17-Oct-2017 DUSDKRW DUSDKRW-20171113 13-Nov-2017 13-Nov-2017 14-Nov-2017 14-Nov-2017 14-Nov-2017 14-Nov-2017 DUSDKRW DUSDKRW-20171218 18-Dec-2017 18-Dec-2017 19-Dec-2017 19-Dec-2017 19-Dec-2017 19-Dec-2017