Korea Exchange

The Korea Stock Exchange (KSE) merged with the Korea Futures Exchange and KOSDAQ Stock Market in 2005 to form Korea Exchange (KRX). KRX is a securities exchange operator in South Korea, operating markets in equities, bonds, stock index futures, stock index options and equity options.

KRX acts as the central counterparty (CCP) for transactions in its markets, providing clearing functions for the stock exchange, KOSDAQ and futures exchange. The Korea Securities Depository (KSD) facilitates efficient trade settlement. Stocks and general bonds are settled through the commercial banks while government bonds and the repo market are settled through the central bank.