Yoon Chang-hyeon, president of Koscom, emphasized the need to redefine the structure and role of the derivatives market in line with changes in the digital finance environment.
On Apr. 2, marking the 30th anniversary of the introduction of on-exchange derivatives, Yoon said at a policy symposium held at the Bulls Hall of the Korea Financial Investment Association in Seoul that "the domestic on-exchange derivatives market has established itself as core infrastructure of the capital market over the past 30 years by performing price discovery and risk management functions."
Yoon assessed that since the introduction of KOSPI200 futures in 1996, the domestic derivatives market has functioned as a risk management tool even amid various economic shocks.
He went on to say, "Amid changes in the financial environment, including artificial intelligence (AI) and digital assets, it is time for the derivatives market to also seek new functions and roles," adding, "It is also important to establish an institutional foundation to protect market participants and promote sound market development."
In congratulatory remarks, Hwang Sung-yeop, president of the Korea Financial Investment Association, said, "Amid rapid changes in the global investment environment, the derivatives market is also at an important turning point where it must seek roles and functions suited to the new environment," adding, "At the association level, we will actively support our derivatives market so it can make a fresh leap toward the next 30 years through organic communication among industry, academia, and authorities."
At the event, presentations and discussions were held on topics such as advancing the capital market and the need to introduce digital asset derivatives.