USD – Korean Won Futures

  • South Korean Won – United States (USD-KRW) dollar futures contract is a part of the key initiative of the exchange to give access to currencies that are relevant to the region as well as be a one stop shop for emerging market currencies.

    The USD-KRW contract is relevant to the region as Korea is one of the large trade partners of UAE. South Korea is also one of the most industrialized nations in Asia and the prominent player in the Global Economy.

    • USD-KRW is accessible from 7.00 AM- 11.55 PM UAE time
    • Small contract size $50,000 suitable for traders and organizations with smaller exposures
    • One of the only regulated platforms offering USD-KRW Futures in GCC
    • UAE is a Tax Free jurisdiction ensuring no tax liability arising out of accrued profit
    • Overlaps most trading zones including Europe and United States hence any news effecting the KRW markets lies within the time zone
    • Ideal location for corporate organizations with exposure to hedge KRW as KRW usually quotes only in Asian hours
    • Possible arbitrage opportunities with the large over the counter market for KRW in Asia
  • ContractParameters
    Contract Symbols DUSDKRW
    Underlying US Dollar
    Contract Size USD 50,000
    Trading Currency Korean Won (KRW)
    Settlement Currency US Dollars (USD)
    Price Quote KRW for 1 USD (e.g. KRW 1114.1 / 1114.2 Per 1 USD)
    Minimum Tick Size 0.1 KRW
    Tick Value 5000 KRW
    Trading Days Monday through Friday
    Trading Hours 07:00 - 23:55 Hours Dubai time (GMT+4)
    Trading Months Twelve Monthly Contracts, at the outset first three serial months Contracts shall be available for trading.
    Last Trading Day The preceding Monday of the third Wednesday of the contract month except where that day is a bank holiday in either Dubai or Seoul, in which case the Last Day of Trading shall be the preceding Business Day that is not a bank holiday in either Dubai or Seoul
    New Contract Listing Business Day immediately following the Last Day of Trading
    Daily Variation Margin (VM) payment From Trading Currency to Settlement Currency
    Final VM payment From Trading Currency to Settlement Currency
    Final Cash Settlement Price Basis Based on the USD-KRW fixing issued by KFTCC determined by SMBSL, issued between 9.00 AM and 3.30 PM Seoul Time
    Settlement basis Cash
    Daily Price Movement Limit No price limit (for the avoidance of ‘fat finger’ errors price band shall be 10 KRW from previous settlement price e.g. if previous settlement price is KRW 1114.1/US$ then the price band is from 1104.1 to 1124.1))
    Maximum Order Size 500 lots for Banks and Institutions promoted by Banks
    Initial Margin based on SPAN The Initial Margin will be denominated in KRW and the same shall be converted into equivalent USD at the prevalent Spot market rate of USD/KRW to display Initial Margin Utilization in USD terms.
    Indicative VM Indicative VM on EOS-Clear will be displayed in USD as per the prevalent spot market rate for USD/KRW
    Calendar Spread Benefit 100% Calendar Spread benefit
    Extra Margin At times of high volatility, an extra margin, as deemed fit by the DCCC, may be charged
    Delivery Period Margin Not applicable
    Spot rate Shall be taken from available market data sources like Bloomberg and Reuters.

  • ProductContract IdentifierLast Trading DateExpiry DateTender Start DateTender End DateDelivery Start DateDelivery End Date
    DUSDKRW DUSDKRW-20180115 15/01/1900 15/01/1900 16-Jan-2018 16-Jan-2018 16-Jan-2018 16-Jan-2018
    DUSDKRW DUSDKRW-20180219 19/01/1900 19/01/1900 20-Feb-2018 20-Feb-2018 20-Feb-2018 20-Feb-2018
    DUSDKRW DUSDKRW-20180319 19/01/1900 19/01/1900 20-Mar-2018 20-Mar-2018 20-Mar-2018 20-Mar-2018
    DUSDKRW DUSDKRW-20180416 16/01/1900 16/01/1900 17-Apr-2018 17-Apr-2018 17-Apr-2018 17-Apr-2018
    DUSDKRW DUSDKRW-20180514 14/01/1900 14/01/1900 15-May-2018 15-May-2018 15-May-2018 15-May-2018
    DUSDKRW DUSDKRW-20180618 18/01/1900 18/01/1900 19-Jun-2018 19-Jun-2018 19-Jun-2018 19-Jun-2018
    DUSDKRW DUSDKRW-20180716 16/01/1900 16/01/1900 17-Jul-2018 17-Jul-2018 17-Jul-2018 17-Jul-2018
    DUSDKRW DUSDKRW-20180813 13/01/1900 13/01/1900 14-Aug-2018 14-Aug-2018 14-Aug-2018 14-Aug-2018
    DUSDKRW DUSDKRW-20180917 17/01/1900 17/01/1900 18-Sep-2018 18-Sep-2018 18-Sep-2018 18-Sep-2018
    DUSDKRW DUSDKRW-20181015 15/01/1900 15/01/1900 16-Oct-2018 16-Oct-2018 16-Oct-2018 16-Oct-2018
    DUSDKRW DUSDKRW-20181119 19/01/1900 19/01/1900 20-Nov-2018 20-Nov-2018 20-Nov-2018 20-Nov-2018
    DUSDKRW DUSDKRW-20181217 17/01/1900 17/01/1900 18-Dec-2018 18-Dec-2018 18-Dec-2018 18-Dec-2018

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