An influx of retail investors in the derivatives market is driving new trading platforms and specially tailored contracts.
For nearly a decade, the Korea Exchange was the most actively
traded derivatives exchange in the world, driven almost solely
by retail investors using its KOSPI index options.
The small contracts hit nearly 300m trades a month at their
peak, before a politically-fuelled mandate required the
exchange to increase the multiplier five-fold, forcing those
retail investors out of the market.
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