KRX

KRX, short for Korea Exchange, is the operator of South Korea’s securities and derivatives markets. It oversees the trading, clearing, and settlement of listed equities and bonds, as well as derivatives, and provides market data and related services. The core markets under its umbrella are the KOSPI market, which lists large-cap stocks; the KOSDAQ market, focused on smaller and growth-oriented companies; and the Derivatives Market, offering futures and options on indices such as the KOSPI 200. The exchange also administers related market segments and post-trade infrastructure.

History and structure: KRX was established in 2005 through the consolidation of Korea’s major market functions, bringing together the Korea Stock Exchange (KSE) and the Korea Futures Exchange (KOFEX) with the broader aim of unifying trading, clearing, and settlement under a single operator. This consolidation created a unified platform for equities, derivatives, and settlement services and laid the groundwork for ongoing modernization and product diversification.

Regulation and context: Korea’s financial markets, including KRX, operate under the supervision of the Financial Services Commission and the Financial Supervisory Service. As a major Asian exchange operator, KRX has pursued technology upgrades, expanded access for foreign investors, and expanded its range of market data and product offerings to support capital formation, corporate financing, and investor participation.