The article provides insights to the crazy world of broad based security index futures and narrow based security index futures, referencing the Kospi 200 futures contract as an example. Twice the Commodity Futures Trading Commission (CFTC) alone has overseen the contract, and one time the Securities and Exchange Commission (SEC) and CFTC have overseen it. Who knows about tomorrow? Even the legendary magician and escape artist Harry Houdini would have been dumbfounded by the multiple transformations of this widely followed contract listed on the Korea Exchange since it was initially authorized for offer and sale to US persons in 2008.
"Commentary – The morphing US treatment of the Kospi 200 Futures," FIA MarketVoice, March 8, 2022
New York
