Starting July 31, South Korea will raise the cash deposit requirement for leveraged ETF trading to 30 million won
Svmuu News: The Financial Services Commission of South Korea issued a statement announcing that the country will bring forward the implementation of stricter deposit requirements for retail investors trading single-stock leveraged ETFs to July 31, ahead of the originally scheduled August implementation date. The deposit requirement is set at 30 million won, which must be in cash. The cash deposit requirement has been raised from 10 million won to 30 million won; stocks, ETFs, and bonds will no longer count toward the minimum deposit amount. The new regulations apply to the purchase of single-stock leveraged ETFs listed both domestically in South Korea and overseas. Companies that fail to complete system upgrades by July 31 will be advised to restrict new trades of these products. (Cailian Press)
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