Release Number 8464-21
CFTC Staff Provides No-Action Letter to Korea Exchange, Inc. Concerning the Offer or Sale of KOSPI and Mini KOSPI 200 Futures Contracts
November 23, 2021
The letter will be effective on December 1, 2021.
The KOSPI 200 became a narrow-based security index in 2020. Futures contracts based on narrow-based security indexes are subject to joint CFTC and Securities and Exchange Commission jurisdiction. Products based on non-narrow-based (also known as broad-based) security indexes, by contrast, are subject to exclusive CFTC jurisdiction.
The KOSPI 200 is set to transition to a broad-based security index on December 1, 2021. KRX has noted that a lag may exist between when the KOSPI 200 index fully transitions to a broad-based security index and when KRX secures certification of the Contracts pursuant to Commission Regulation 30.13. DMO