The prize is rice
Commentators who blanche at the mere mention of
derivatives, as though they were among the very worst evils of
the modern world, are often reminded of the long and venerable
history of the instruments, usually with reference to the use
of rice futures several billion years ago in the far east.
Well, it looks as though the Koreans are bringing things
full-circle with their attempts to bring futures to the masses.
Retail futures competitions are taking off in the country,
kicked off by brokers vying for more business as their
underlying equity market tanks. The competitions are truly
aimed at 'mums and dads'. After all, the top prize handed out
by one broker is an electric rice cooker. You may try to
suppress a chuckle out of politeness but the canny Koreans are
having the last laugh. Korean Stock Exchange's Kospi 200
options continues to sizzle as the world's most actively traded
exchange traded derivatives contract, thanks to those mums and
dads? and their electric rice cookers.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.