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KOSPI 200 Mini Futures Contract
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KOSPI 200 Mini Futures Contract

  #1 (permalink)
Trading for Fun
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KOSPI 200 Mini Futures Contract

Hi everyone,

I am interested in getting some input from people trading the KOSPI 200 Mini futures contract. I have a day job and want a liquid futures contract to do some evening trading to practice for the day I move to the ES, and from what I have read KOSPI 200 Mini is unparalleled among Asian instruments in the trading opportunities it offers. But I have some questions:

1) I see that the KOSPI 200 futures contract has incredible liquidity. The KOSPI 200 mini, on the other hand, has less intraday liquidity, though it is still considerably liquid from what I can see. What kind of slippage is expected on stop orders that are beyond 10 contracts in size?

2) Is the typical spread on the mini contract always 1 tick, similar to the ES?

3) I just opened an account with interactive brokers to trade this instrument (haven't funded yet). The commissions are around $1.62 per round trip (if I calculated this correctly). That's almost the value of one tick. Is there any cheaper alternative, or is this pretty cheap compared to brokerages in Korea?

4) For those using IB to trade the KOSPI - the data is free, but is the quality of the data decent enough for intraday trading? Is there any substantial delay between the Korean market value and the value that is displayed by IB?


Thanks in advance for any replies.


Last edited by mangolassi; August 16th, 2015 at 11:48 PM.
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  #3 (permalink)
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1.Mini Kospi 200 futures has started to trade only from 20.07.2015 its new contract.
2. spread is between 1-3 ticks.

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  #4 (permalink)
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Obelixtrader View Post
1.Mini Kospi 200 futures has started to trade only from 20.07.2015 its new contract.

Do you feel that the KOSPI mini will grow in popularity and overtake the full sized contract in the same as the ES grew and overtook the full sized contract?

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  #5 (permalink)
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definitely. every day is volume growing friday was 19,574 contract traded.
Mini has lower tick size 0,02 big Kospi has 0,05 and value Mini has 2000 KRW and big has 25000 KRW.
IB is offering trading on mini Kospi but only for certain accounts (test accounts). To the end of the year the mini will have more contract traded than big Kospi.

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  #6 (permalink)
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You could always just use ATM options to day trade KOSPI. Incredible liquidity. NO stupid PDT rules in South Korea. I have traded the Kospi Future and options in the past. Hope the mini catches on though.

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  #7 (permalink)
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gfmatt View Post
You could always just use ATM options to day trade KOSPI. Incredible liquidity. NO stupid PDT rules in South Korea. I have traded the Kospi Future and options in the past. Hope the mini catches on though.

Thanks.

With your IB account, do you have access to the mini contract? Or are you unable to trade it?

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  #8 (permalink)
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I believe the original KOSPI futures had incredible liquidity until the government decided people need to stop gambling and increased the notional size of each futures contract by 5 or 10 fold. This caused volume to drown by something like 1/4th the peak. The Korea Exchange had since been given independence and I think they want to bring back the liquidity to their futures market once again. If I'm right, the gambler blood in Koreans will awaken the beast once more in the mini futures and perhaps become something like Chicago of Asia.

Though to be honest, the notional of the big looks about the same as the e-mini S&P's.

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mangolassi View Post
Thanks.

With your IB account, do you have access to the mini contract? Or are you unable to trade it?

I was living in Korea when I was trading it through my US-based IB account. But at some point, I received an email saying I'd have to open a UK-based IB account to continue trading it. Not exactly sure of the details though.

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  #10 (permalink)
Trading for Fun
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Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received



gfmatt View Post
I was living in Korea when I was trading it through my US-based IB account. But at some point, I received an email saying I'd have to open a UK-based IB account to continue trading it. Not exactly sure of the details though.

I just emailed Interactive Brokers asking them about the details of this. Hopefully I can trade this instrument...

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