Seoul advances increased cash rules for leveraged ETFs to July 31
Tweet
Share
E-mail
Currency dealers talk in front of an electronic board displaying the exchange rate between the U.S. dollar and South Korean won, the Korea Composite Stock Price Index (KOSPI) and South Korean won and the Korea Securities Dealers Automated Quotations (KOSD
SEOUL, July 24 (Reuters) - South Korea's financial regulator said on Friday it is bringing forward the implementation of increased deposit requirement for retail investors to trade single-stock leveraged exchange-traded funds (ETFs) to July 31 to address market volatility.
The Financial Services Commission said that retail investors must maintain a 30 million won ($20,437) cash deposit to trade single-stock leveraged ETFs, which was accelerated from an earlier plan to take effect sometime in August.
The measures aim to curb speculative trading by retail investors. The approval of domestic single-stock leveraged ETFs linked to Samsung Electronics and SK Hynix in late May has been criticised as having led to increased volatility in the market.
($1 = 1,467.9000 won)
(Reporting by Cynthia Kim; Editing by Muralikumar Anantharaman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nepalis pin hopes on 'wall of the missing' in hunt for relatives after deadly flood
- Chair of Pacific leaders meeting urges united front on China missile test
- Partner of Australian missing in Nepal presses tech firms for access to data
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
