Did the CFTC ban Americans from trading this ? Interactive Brokers is saying there are now regulatory restrictions and I can't place a trade. But I can't find any information about this.
I tried to place an order on the Kospi K200 & K200M, it was denied. I was able to place an order on the KOSDAQ150, this is the South Korean version of the NQ This index is highly correlated to the Kospi200 but has more volatility. http://www.krx.co.kr/contents/GLB/02/0201/0201040208/20151104_KOSDAQ150Futures_FACTSHEET.pdf
Is it the new trading restriction imposed by S. Korea? some Countries impose (some) trading restrictions on foreigners eg India, China
Interesting flow of events: https://www.fia.org/marketvoice/articles/commentary-morphing-us-treatment-kospi-200-futures
you can consider trading Nikkei Hangseng China A50 Taiwan Index futures etc (if there is no trading restriction)
The weight of Samsung grew to over 30% of the the index moving the index from broad-based to narrow-based under CFTC rules which means non-qualified persons can no longer trade them. I don't understand why the KRX removed the cap on the max weight of stocks knowing this would happen. If you want more fun, get a load of the first line of the CFTC glossary on qualified person https://www.cftc.gov/LearnAndProtect/EducationCenter/CFTCGlossary/glossary_qr.html Qualified Eligible Person (QEP): The definition of QEP is too complex to summarize here; please see Regulation 4.7(a)(2) and (a)(3), 17 CFR 4.7(a)(2) and (a)(3), for the full definitions
The real problem lies with the fact that US residents cannot trade many products such as foreign cash index options, CFDs, and to my knowledge single stock futures? If this was not the case then the change in definition would have never impacted the ability to trade those products. But US residents are allowed to gamble in Vegas and lose it all, mortgage their equity to the hilt, play around with cryptos and all other sorts of other gambles. Yet Korean index futures and options are apparently too risky to allow US retail traders to engage in. Go figure...