Exchange Derivatives

Membership and Account Structure

Mechanism and Requirements for Opening a Securities Account for Securities Derivative Contract Transactions

Referring to Provision VIII.1. IDClear Regulation Number III-2 concerning Clearing and Guarantee of Settlement of Futures Contract Transactions and considering the Joint IDClear-KSEI Circular Letter No. SE-003/DIR/KPEI/0324 and No. SE-0002/DIR-EKS/KSEI/0324 dated 22 March 2024 concerning: Procedures for Using Securities Accounts for the Settlement of Securities Derivative Contract Transactions, it can be conveyed that in the case of opening a Securities Account for Securities Derivative Contract transactions carried out by Securities Derivative Contract Clearing Members, the following mechanisms and requirements apply:

1. Securities Derivative Contract Clearing Members are required to have a Main Securities Account (REU) Settlement of IDClear Securities Derivative Contracts (042), a IDClear Securities Derivative Contract Security Fund Account (054), and a Main Securities Account (REU) Collateral for IDClear Securities Derivative Contracts (044) with the same client code as the Main Securities Account (REU) Collateral (004). 

2. Customers of Securities Derivative Contract Clearing Members who will carry out Securities Derivative Contract transactions are required to follow the mechanism for opening a IDClear Derivative Contract Transaction Securities Sub Account, as follows:

  1. For customers who already have a Securities Sub Account (SRE) Guarantee (004), the Securities Derivative Contract Clearing Member is obliged to open a Sub Securities Account (SRE) Securities Derivative Contract Guarantee (044) using the same client code as the Sub Securities Account (SRE) Guarantee (004) for that Customer; or
  2. For customers who do not yet have a Securities Sub Account (SRE) Guarantee (004), the Securities Derivative Contract Clearing Member is obliged to open a Depository Sub Securities Account (SRE) (001), Sub Securities Account (SRE) Guarantee (004) and Sub Securities Account (SRE) IDClear Securities Derivative Contract Guarantee (044) with the same client code for the Customer.

3. Securities Derivatives Contract Clearing Member who opens a Securities Sub Account (SRE) Collateral for IDClear Securities Derivative Contracts (044) with a different client code from the Securities Sub Account (SRE) Collateral (004) for the same Customer, then the position of transactions occurring for that Customer will be recorded as the Clearing Member's portfolio.