KOREAN REBUBLIC: KRX Opening of Three-Month KOFR Futures Market

Tuesday March 1 2022

The Korea Exchange (KRX) has announced the opening of its Three-Month KOFR Futures Market on March 28^th, 2022 to follow up the ‘Risk Free Rate (RFR) Selection Result and Activation Plan’ prepared by the Financial Services Commission in 2021. 

A daily interest rate calculated and published by the Korea Securities Depository (Korea Overnight Financing Repo Rate: KOFR) 

An interest rate that excludes credit risks among interest rates for actual trades (RFR or Risk-Free Reference Rate) Three-Month KOFR Futures are products that are settled in cash on the final settlement day at the average rate of KOFR, which is announced every business day, for the three (3) months immediately before the expiration of the futures. 

From the third Wednesday (included) of the month, which is three months before the delivery month of the product, to the third Wednesday (not included) of the delivery month The Business Regulation was revised in November last year, and its Enforcement Rules were amended on February 16^th, 2022 after the notice period  

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