CME Group, KRX Announce After-hours Access to US Dollar Futures Contract on CME Globex
CME Group, the world’s leading and most diverse derivatives marketplace, and the Korea Exchange Inc. (KRX), a fully-integrated capital marketplace in Asia leading market innovation and supporting creative economy, today announced that effective December 8th, KRX’s US Dollar Futures contract will be hosted after-hours on the CME Globex electronic trading platform, providing international market participants expanded access to the Korean markets.
“The addition of KRX’s US Dollar Futures contract on CME Globex is an important part of our continued global expansion, and this will enable their products to benefit from the speed, reliability and transparency of our industry-leading electronic trading platform,” said Phupinder Gill, Chief Executive Officer of CME Group.
“This is a significant achievement, and highlights the success of our partnership with KRX. We look forward to working more closely with them in providing market participants access to round the clock risk management products,” said William Knottenbelt, Senior Managing Director, International, CME Group.
“The launch of this after-hours trading of US Dollar Futures on CME Globex will be another big step forward for KRX to internationalize the Korean Won cash and futures markets and globally expand its customer base,” said Kyungsoo Choi, Chairman and CEO of KRX. “In this regard, we are pleased that we can provide this enhanced 24-hour risk management tool to customers and the opportunity of a new revenue source to members.”
According to the Futures Industry Association’s Annual Volume Survey 2013, KRX’s US Dollar Futures is the 7th most traded FX futures contract in the world last year, with 51.8 million contracts traded. This US Dollar Futures contract is the second KRX contract to be hosted on CME Globex. In 2009, CME Group and KRX announced after-hours access to KOSPI 200 Futures on CME Globex.