U.S. regulator approves sales of KOSPI 200 futures

SEOUL, Nov. 30 (Yonhap) -- A U.S. agency that regulates commodity futures and
option markets has approved the sale of futures contracts based on South Korea's
key benchmark stock index, South Korea's financial regulator said Sunday.
According to the Financial Services Commission (FSC), the U.S. Commodity Futures
Trading Commission (CFTC) on Friday issued a no-action letter permitting the
offer and sale of KOSPI 200 futures in the U.S.
The KOSPI 200 futures index is composed of 200 major stocks currently listed on
the Korea Exchange. U.S. investors comprise the second-largest group of foreign
investors in South Korea's stock market, following U.K. investors.
According to the FSC, U.S. investors' trading of KOSPI 200 futures accounts for
1.2 percent of the index's total.
sam@yna.co.kr
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