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stockcik

Registered: Feb 2011
Posts: 9

04-13-11 06:57 AM

Are U.S. residents allowed to trade KOSPI 200 index options with IB?
what a great options market it is. anyone knows?

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IB-AN
Interactive Brokers

Registered: Aug 2006
Posts: 79

04-14-11 02:33 PM

No. The KOSPI 200 option is a securities product as it has the cash index as its underlying. U.S. residents are generally precluded from trading non-U.S. listed securities options due to regulatory concerns.

Note that the Korea Exchange also lists a futures contract based upon KOSPI 200 index which U.S. residents are allowed to trade. Were the exchange ever to list options having this futures contract as their underlying, U.S. residents would be able to trade those.

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wilburbear

Registered: Oct 2004
Posts: 3038

04-28-11 07:32 PM

What do you mean by "generally"?

If I'm a U.S. citizen trading overseas, would that help?

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IB-AN
Interactive Brokers

Registered: Aug 2006
Posts: 79

04-29-11 09:27 PM

The term 'generally' is used as certain eligible investors referred to as Qualified Institutional Buyers or, QIBs, are not subject to this restriction.

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wilburbear

Registered: Oct 2004
Posts: 3038

05-29-11 12:44 AM

[QUOTE]Quote from IB-AN:

The term 'generally' is used as certain eligible investors referred to as Qualified Institutional Buyers or, QIBs, are not subject to this restriction. [/QUOTE

I was a BD for more than 10 years. How do I become a QIB?

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def
Interactive Brokers

Registered: Dec 1999
Posts: 4296

05-29-11 02:21 AM

Quote from wilburbear:

[QUOTE]Quote from IB-AN:

The term 'generally' is used as certain eligible investors referred to as Qualified Institutional Buyers or, QIBs, are not subject to this restriction. [/QUOTE

I was a BD for more than 10 years. How do I become a QIB?

here's the rule:
http://taft.law.uc.edu/CCL/33ActRls/rule144A.html

basically you need to have to be an entity with $100 million under management or a broker dealer with $10mm under mgmt managing other QIB's funds.

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