​Daily Wrap – Tech And Energy Drive Single Stocks; Tax Boosts Mini-Kopsi

A transfer tax to be levied on standard Kospi 200 futures and options that applies to retail investors could drive investors to switch into Kospi 200 mini-products in 2016, should the latter be exempt. The products launched recently and have smaller multipliers compared to standard Kospi 200 derivatives. They allow traders of all size to participate. We also take a look at the continuing flow in single stocks, with big cap tech and energy names driving the volumes. Investors are either looking to hedge their credit exposure in energy, or tech earnings are driving two way flow. In the people and firm’s section, Citigroup has hired an ex-senior equity derivatives index trader at Nomura, to a similar role in London.