Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/337219 
Authors: 
Year of Publication: 
2020
Citation: 
[Journal:] Journal of Derivatives and Quantitative Studies: Seonmul yeon'gu (JDQS) [ISSN:] 2713-6647 [Volume:] 28 [Issue:] 3 [Year:] 2020 [Pages:] 149-171
Publisher: 
Emerald, Leeds
Abstract: 
This paper aims to provide the necessity to activate long-term exchange-traded derivatives (ETD) in Korea. In the era of aging, low interest rates and low economic growth, the investment demand for long-term financial products, and its hedging demand have steadily increased. Unfortunately, long-term ETD do not trade in Korea, and this study presents political suggestions to invigorate long-term ETD based on overseas cases and empirical analysis. Specifically, this study suggests the necessity to activate exchange traded funds (ETFs) options, long-term Korea treasury bond futures and options and long-term Volatility Index of Korea Composite Stock Price Index future and options. The introduction of those long-term ETD not only contributes to providing long-term investment and hedging vehicles but also reduces market inefficiencies in the Korean industry of ETFs, bonds and structured products.
Subjects: 
ETF option
Bond futures and options
VKOSPI futures and options
Market efficiency
JEL: 
G13
G14
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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