trade.xyz: SKHY will be launched as a pre-IPO contract, and after ADS starts trading on Nasdaq, it will be converted into a standard XYZ perpetual contract
According to Odaily, trade.xyz posted on platform X stating that SKHY tracks the value of one SK Hynix American Depositary Share (ADS). This NASDAQ-listed security represents one-tenth of an SK Hynix common share, held in custody by a depositary bank. SKHY will be launched as a pre-IPO contract and will be converted into a standard XYZ perpetual contract after the ADS begins trading on NASDAQ. TradeXYZ’s existing SKHYNIX market xyz:SKHX will remain unchanged, tracking one SK Hynix Inc. common share (KRX: 000660), and will continue to operate normally based on the company’s main listing market in Seoul. The two markets are related but independent of each other; 10 ADS represent one common share, and the ADS price may carry a premium or discount relative to the Seoul market price.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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