FX

Eurex - the only after-hours trading venue for USD/KRW Futures

Highly liquid FX Futures 

The Korean Won denominated USD futures on KRX are ranked as one of the top 10 foreign exchange futures and options contracts in 2020 (Statistics by Futures Industry Association) with 110 million traded contracts in 2020 and an open interest of more than 860,000 in December 2020. 

Manage your Korean exposure after KRX closing hours

Following strong demand from our market participants, KRX and Eurex continued their product cooperation ("Eurex/ KRX Link") by listing the Eurex Daily USD/KRW Futures on US Dollar Futures of the Korea Exchange ("Daily USD/KRW Futures") at Eurex starting 26 July 2021.

This product is a fully fungible contract with the corresponding KRX US Dollar Futures contract. Market participants can continue to trade the Daily USD/KRW Futures at Eurex during the European and core U.S. hours from 18:00 KST or 10:00 CET.

More trading opportunities for the U.S. market participants

The Daily USD/KRW Futures is a CFTC approved product, allowing U.S. market participants trading access during the U.S. time zones.


Contract Specs

Daily USD/KRW Futures on US Dollar Futures

Min. Price Change

 Product Code

Trading Hours

Contract multiplier

Points

Value

0.1


KRW 1,000

FCUW

10:00 - 21:00 CET
11:00 – 21:00 CEST

18:00 – 05:00 KST 
18:00 – 04:00* KST



One USD/KRW Futures
contract of the relevant series

* during the daylight savings time in Europe

Key Benefits

  • Access to USD/KRW Futures after-hours market
    The KRX US Dollar Futures (denominated in KRW) are one of the most liquid forex derivatives in the world. The Eurex/KRX Link creates a platform for market participants to trade or hedge this product during the core European and U.S. time zones
     
  • Fully fungible product
    Eurex Daily USD/KRW Futures is fully fungible with the corresponding contract at KRX
     
  • Exchange-traded benefits
    Important exchange-based trading, clearing and risk management functionalities help to 
    reduce counterparty risks and increase margin efficiencies


Trading phases


Access Eurex/KRX Link

  1. Listing of the Eurex/KRX Link product
  2. Eurex members: must have a business relationship with at least one KRX member to facilitate the delivery of the Eurex/KRX Link product. KRX members: open an account with at least one Eurex member to facilitate outbound orders from Korea to trade the Eurex/KRX Link product
  3. Eurex members trade the product at Eurex by indicating the KRX member and the ID account number of the final beneficiary into the respective dedicated field along with the order. KRX members trade the Eurex/KRX Link product through Eurex members
  4. Margining: Intra-day margin in one of the Eurex clearing currencies (EUR/CHF/USD/GBP)
  5. Clearing: Payment/Receipt of variation margin in KRW at a Korean settlement bank by KST 15:00 (CET 07:00 or 08:00*)
  6. Settlement information transfer on a final beneficiary basis from Eurex Clearing to KRX
  7. Settlement information transfer from KRX to the respective KRX members
  8. Margin check & entry of the settlement information into the KRX system through KRX‘s OTC Block Trading Functionality
  9. Confirmation of settlement information entry which results in Eurex/KRX Link product positions in the KRX market

Prices/Quotes

Product Diff. to prev. day last Last price Contracts Time
FCUW +0.39% 1,376.10 6,790 20:56:59

Highlights

Connecting markets globally with Eurex/KRX Link

The Eurex Daily USD/KRW Futures product launch is scheduled for 26 July 2021. Eurex is the only venue that offers investors access to the Korean market outside Korean trading hours. Watch this video to find out more.
Press Release | Eurex

Eurex and Korea Exchange further expand their link with Korean Won contract

Daily USD/KRW Futures available from 26 July. Eurex is the only after-hours trading venue for USD/KRW Futures. Contracts are CFTC approved and tradable in the U.S.

Contact

FX Sales

Frankfurt
T +49-69-211-1 26 19

London
T +44-20-78 62-76 64

Chicago
T +1-312-544-1056

fx@eurex.com

Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

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