Trading-error loss prompts review of KRX clearing rules

03/5/2014 | Risk.net (subscription required)

Executives from a number of securities firms met with officials at the Korea Exchange last month about a December trading error by HanMag Securities. The error resulted in all members of the exchange's listed derivatives platform losing some of their contributions to a default fund. However, KRX paid nothing. The situation has prompted a review of the exchange's clearing rules and a call for change.

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