Published On: Fri, Aug 6th, 2010

Basic Deposit of KRW 5 million for Mini Gold Futures and Lean Hog Futures

Korea Exchange (KRX) decided to set KRW 5 million as the basic deposit required for Mini Gold Futures trade, which will be launched on September 13, 2010. It should be noted that by taking into consideration the inputs of market participants, the basic deposit for Mini Gold Futures has been lowered considerably from the existing basic deposit requirement of KRW 15 million. The basic deposit for Lean Hog Futures, whose size of trading unit is similar to that of Mini Gold Futures, will also be lowered to KRW 5 million on September 13, 2010.

To improve the convenience of investors participating in Gold Futures trade, the KRX plans to make available the international price of gold converted into Korean Won through the home trading systems of securities and futures companies on real-time basis, starting early September. Presently, the spot price of gold is available only in U.S. dollar, thus requiring the conversion into Korean Won, and the considerable fee must be paid for the data use. Hence, the small-scale business operators and retail investors have no reference indicator to use when trading Gold Futures. It is expected that the provision of international price of gold in Korean Won would change this problematic situation.

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