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August 4, 2015

Update on Central Clearing in Korea

The Korean CCP provides data on progress in central clearing, both voluntary and mandated.

Despite my pestering KRX every time I see them at trade show, they've not provided data on clearing progress until now. The full update can be seen over at their website by following this link, and summarised below. Also attached below is the PDF with the information.

  • Total IRS cleared volume from March 2014 to June 26th 2015: KRW 404trn, GBP 222bn USD 346bn
  • Open notional: KRW 350trn, GBP 192bn USD 300bn
  • Trade volume in 2015: Around 63 trades per day
  • 44% of business is Bank – Buy-side (Securities Firms in KRX terminology)
  • Plans to introduce NDF clearing, and expand remaining maturity on IRS to 20 years (from 10)

Full analysis in the PDF below and converted to GBP and USD here:


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