Exchange Designates Final Settlement Benchmark Bond for June 2023 Treasury Futures
[Asia Economy Reporter Son Sunhee] The Korea Exchange announced on the 20th that the final settlement benchmark bonds for the June 2023 (3-, 5-, and 10-year) government bond futures, which will be traded from the 21st, have been designated.
Government bond futures are derivatives based on government bonds with a face value of 100 won and a coupon rate of 5%. However, such government bonds do not actually exist, so the Korea Exchange combines already issued government bonds to closely resemble them, and these government bonds become the final settlement benchmark bonds.
The benchmark bonds for the 3-year government bond futures June 2023 contract (KTB3F2306) are three issues: Gukgo04250-2512(22-13), Gukgo03125-2506(22-4), and Gukgo03125-2709(22-8).
The benchmark bonds for the 5-year government bond futures June 2023 contract (KTB5F2306) are two issues: Gukgo03125-2709(22-8) and Gukgo02375-2703(22-1), and for the 10-year government bond futures June 2023 contract (KTB10F2306), two issues have been designated: Gukgo04250-3212(22-14) and Gukgo03375-3206(22-5).
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The spot yields for each final settlement benchmark bond are calculated by the Korea Financial Investment Association daily at 11:30 a.m. and 4:00 p.m., and announced through their website, KOSCOM terminals, and other channels.
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