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KOSPI 200 Mini Futures Contract


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KOSPI 200 Mini Futures Contract

  #21 (permalink)
 Obelixtrader 
Slovakia
 
Experience: Intermediate
Platform: Ninjatrader 8
Broker: Interactive Brokers,Tastytrade,Birdwingo
Trading: K200M,KOSDQ150,US stock option
Posts: 220 since Aug 2009
Thanks Given: 116
Thanks Received: 109


Tommip View Post
Interactive Brokers take much higher commission then local brokers.For example commission comparison - IB vs Hyundai Futures:

Hyundai takes 0.015 % for stock futures,IB takes 0.04 %

KTB futures Hyundai 2900 IB 4600 KRW

Kospi 200 Hyundai 0.00145 % while IB takes ... three times more 0.004%

KRX is only ,,weak'' point of IB - on all futures they take x3 times more then others.Trading via local brokers like NH Futures/Hyundai Futures/Samsung Futures will save you 70 % of your money.And if you also sell naked options... you will save 90 % of margin

You are right
i was looking on one of these brokers for kospi200 futures 0,00145% and IB 0,004% and for currency futures 560 per side and IB 1500
Tommip do you trade this products through korean broker?

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  #22 (permalink)
mangolassi
Boston, MA
 
Posts: 166 since Dec 2014
Thanks Given: 61
Thanks Received: 126


Tommip View Post
Interactive Brokers take much higher commission then local brokers.For example commission comparison - IB vs Hyundai Futures:

Hyundai takes 0.015 % for stock futures,IB takes 0.04 %

KTB futures Hyundai 2900 IB 4600 KRW

Kospi 200 Hyundai 0.00145 % while IB takes ... three times more 0.004%

KRX is only ,,weak'' point of IB - on all futures they take x3 times more then others.Trading via local brokers like NH Futures/Hyundai Futures/Samsung Futures will save you 70 % of your money.And if you also sell naked options... you will save 90 % of margin

Thanks for the info. Do you know which brokers would allow a US-based client to open an account?

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  #23 (permalink)
Tommip
Rybnik Polska
 
Posts: 114 since Aug 2015
Thanks Given: 18
Thanks Received: 51


I was talking with Hyundai and Samsung few years ago and there is one key point - after new regulation in 2012 (increase tick value ) they require 15 000 000 KRW to open account.All brokers require that couse it is a new regulation with KRX.So it was no sense for me to open account just to trade one futures,also it is little complicated couse you need to have standing proxy there.
Procedures is on NH Futures site (write nh futures opening account in google ),I cant provide direct link becouse I'm writing just second post on this forum :-) .Finally mangolassi - yes,US citizen could open account If I remember corectly.

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  #24 (permalink)
Tommip
Rybnik Polska
 
Posts: 114 since Aug 2015
Thanks Given: 18
Thanks Received: 51

Wow last year requirements go up even further.I was asking few persons at few brokers,and most of them... are no interested in having retail foreign client's.They even still not have trading platform in English. From this year minimal requirements are 30 000 000 KRW for futures and ... 50 000 000 KRW for options.This is so ridiculous - putting new small futures to exchange and throwing out retail traders in the same time ;/.Also have in mind that there is big possibility that there will be new tax on derivatives (as it is on stock's ) ... all of this make KRX a dead place.

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  #25 (permalink)
 gfmatt 
Edmonton, Alberta
 
Experience: Advanced
Platform: IB
Trading: nq
Posts: 55 since Jan 2012
Thanks Given: 29
Thanks Received: 60

IB has excellent rates for options in Korea. When I was trading Korean markets it usually worked out to around $1.00/contract for options. (It may even be cheaper if you trade more size , ie, 10 lots, etc...) I think Futures r/t is about $6.60 for K200.

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  #26 (permalink)
Tommip
Rybnik Polska
 
Posts: 114 since Aug 2015
Thanks Given: 18
Thanks Received: 51

gfmatt - its true if you compare tick value vs commission...but if you try to sell that (naked) option ... then you will need to have more then 10 000 $ margin even if option price is 0.05

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  #27 (permalink)
 gfmatt 
Edmonton, Alberta
 
Experience: Advanced
Platform: IB
Trading: nq
Posts: 55 since Jan 2012
Thanks Given: 29
Thanks Received: 60

Unless you have portfolio margin, selling naked is stupid anyway, even in the US. With IB, I only used calendars, butterflies, and BWBs . Rates were cheap.

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  #28 (permalink)
mangolassi
Boston, MA
 
Posts: 166 since Dec 2014
Thanks Given: 61
Thanks Received: 126

Mini KOSPI should be tradable for IB clients now.

How does trading the Korean market work through IB? Do you have to convert your funds into the Won in order to place trades? Or can it be done with the US Dollar?

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  #29 (permalink)
Tommip
Rybnik Polska
 
Posts: 114 since Aug 2015
Thanks Given: 18
Thanks Received: 51


mangolassi View Post

How does trading the Korean market work through IB? Do you have to convert your funds into the Won in order to place trades? Or can it be done with the US Dollar?

You can have USD as base currency and trade.Only profit / loss will be in Won as credit/debit.

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  #30 (permalink)
mangolassi
Boston, MA
 
Posts: 166 since Dec 2014
Thanks Given: 61
Thanks Received: 126



Tommip View Post
You can have USD as base currency and trade.Only profit / loss will be in Won as credit/debit.


Thanks. So will the profits be updated to my account in USD or do I have to convert them to USD later on?

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Last Updated on June 14, 2017


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