Korea Exchange (KRX) said on the 9th that on the 10th (local time) in Boca Raton, U.S., it will each sign agreements with Germany's Eurex and ICE Futures US in the United States to fully extend trading hours for Korea-related index derivatives.
Korea Exchange (KRX) Chair Jeong Eun-bo departed the country that day to sign an agreement to fully extend the trading hours for Korea-related index derivatives and to hold a global roadshow for the Korean stock market.
The signing ceremony will take place on site at the "FIA International Derivatives Conference," held during the same period and hosted by the Futures Industry Association (FIA).
With this agreement, investors will be able to trade Korea-related derivatives on European and U.S. derivatives exchanges without being constrained by trading hours.
This is a measure to "improve access to Korea-related derivatives," one of the tasks under the comprehensive foreign exchange and capital market roadmap for inclusion in the Morgan Stanley Capital International (MSCI) developed markets index.
Jeong said, "With this agreement, 24-hour trading of Korea-related index futures has become possible through the Americas (ICE) and Europe (Eurex) exchanges," adding, "We expect liquidity to improve across the global market for Korea-related derivatives, including KRX KOSPI 200 futures."
Jeong will also meet at the FIA conference with MSCI Chief Product Officer Alvise Munari and George Harrington, MSCI global head of derivatives, to seek active cooperation to enable Korea's inclusion in the MSCI developed markets index.
Jeong will then travel to London, England, to hold a "Korean stock market global roadshow" on the 13th for major global institutional investors.
The London global roadshow was arranged to publicize the results of capital market system improvements promoted by the government and Korea Exchange (KRX), and to expand global investor interest in the Korean stock market, which has recently entered the KOSPI 6000 era.
At the event, organizers will explain amendments to the Commercial Act and tax code to enhance shareholder value since the launch of the Lee Jae-myung administration, as well as efforts and outcomes in shifting funds toward productive finance, and will introduce improvements to market infrastructure, including activation of English disclosures to improve foreign investor access, improvements to dividend procedures, extended trading hours, and a shorter settlement cycle.
Jeong emphasized, "We will actively inform global investors about the results of capital market system improvements being pursued by the government and Korea Exchange (KRX) and the changed investment environment of the Korean market, and we will work to ensure the Korean stock market establishes itself as a global premium market."