Korea Exchange (KRX) held a ceremony to mark the 30th anniversary of its derivatives market, the bourse operator said Thursday.
About 200 people, including officials from the financial investment industry, attended the event held in Busan. The derivatives market opened on May 3, 1996, with the listing of KOSPI 200 futures, Korea's first derivatives product.
KRX's derivatives trading volume ranked first among global exchanges in 2001 and maintained the top position through 2011. Over the same period, KOSPI 200 trading value grew at an annual average of 23 percent, with yearly trading value surpassing 10 quadrillion won in 2011.
Through the event, KRX said it sought to explore the future direction of the derivatives market and reaffirm its role in Busan, Korea's financial hub. The exchange plans to expand its product lineup and pursue a globalization strategy to strengthen the competitiveness of its derivatives market. It is also moving to introduce derivatives linked to virtual assets.
"We will work to develop Busan into a derivatives-specialized financial hub that draws global attention," KRX Chairman Jeong Eun-bo said. "Through efforts such as attracting international conferences on derivatives and supporting the cultivation of financial talent in Busan, we will fulfill our responsibility to strengthen Busan's global competitiveness and contribute to regional economic development."
