KRX adopts this preliminary margin system
because it manages risks conservatively to protect all investors.
Products List
Products |
Preliminary Margin |
Initial Margin Rate |
Maintenance Margin Rate |
|---|---|---|---|
KOSPI200Futures |
30,000,000KRW |
7.50% |
5.00% |
MINI KOSPI200Futures |
30,000,000KRW |
7.50% |
5.00% |
3-years KTB Futures |
30,000,000KRW |
0.75% |
0.50% |
5-years KTB Futures |
30,000,000KRW |
1.20% |
0.80% |
10-years KTB Futures |
30,000,000KRW |
2.70% |
1.80% |
USD Futures |
30,000,000KRW |
5.10% |
3.40% |
JPY Futures |
30,000,000KRW |
7.20% |
4.80% |
EUR Futures |
30,000,000KRW |
5.40% |
3.60% |
Gold Futures |
30,000,000KRW |
7.50% |
5.00% |
Lean hog Futures |
30,000,000KRW |
21.00% |
14.00% |
KOSPI200 Options |
50,000,000KRW |
7.50% |
5.00% |
MINI KOSPI200 Options |
50,000,000KRW |
7.50% |
5.00% |
USD Options |
50,000,000KRW |
5.10% |
3.40% |
Preliminary Margin
The amount which the customer must deposit with Members before placing an order Once the order is executed, the customer can withdraw the difference between preliminary and initial margin at any time.
Initial Margin
The initial margin approximately equals the maximum daily price fluctuation permitted for the contract being traded. Upon proper completion of all obligations associated with a trader's futures position, the initial margin is returned to the trader.
Maintenance Margin
If a customer deposit falls below the maintenance margin requirement, a Member will impose additional margin on the customer (margin call). The maintenance margin is generally about two-thirds of the amount of the initial margin. The customer should replenish the margin, bringing it back to its initial level by noon of the next day, If she/he does not make the payment, the Member may liquidate her/his positions without any prior notice.
Options contract
Classifications |
Maintenance Margin Rate |
|---|---|
Buying options in limit order |
number of contracts × minimum price movement |
Buying options in market order |
number of contracts × standard option margin per contract |
Selling options |
number of contracts × minimum price movement (Maximum theoretical price - selling theoretical price) |