KOSPI 200 futures surge more than 5%…buy-side circuit breaker triggered

Korea Economic Daily

Summary

KOSPI 200 futures prices surged more than 5% intraday, prompting a disclosure that a buy-side sidecar was triggered in the KOSPI market.
At the time of activation, the KOSPI 200 futures index was 887.25, up 5.08% from the previous day’s close.
The KOSPI market buy-side sidecar is triggered when KOSPI 200 futures rise at least 5% from the reference price and the move persists for one minute.

Forecast Trend Report by Period

KOSPI 200 futures prices jumped more than 5% intraday on the 18th, triggering a buy-side “sidecar” (a temporary suspension of the validity of program trading quotes) in the main KOSPI market.

The Korea Exchange said in a disclosure that a buy-side sidecar for the KOSPI market was triggered at around 2:34:13 p.m. that day. At the time of activation, the KOSPI 200 futures index was up 5.08% from the previous day’s close at 887.25. This marks the first buy-side sidecar activation in the KOSPI market since the 10th, after six trading sessions.

A KOSPI sidecar is triggered when KOSPI 200 futures rise at least 5% from the reference price and the move persists for one minute, and it halts the effectiveness of program buy quotes for five minutes.

Ko Jeong-sam, Hankyung.com reporter jsk@hankyung.com