trade.xyz: SKHY to Launch as Pre-IPO Contract, Converting to Standard XYZ Perpetual After ADS Trading on Nasdaq

Odaily reported that trade.xyz announced on platform X that SKHY tracks the value of 1 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 launch as a pre-IPO contract and will convert to a standard XYZ perpetual contract once ADS begins trading on Nasdaq. The existing SKHYNIX market xyz:SKHX on TradeXYZ remains unchanged, tracking 1 common share of SK Hynix Inc. (KRX: 000660), and continues to operate normally based on the company's primary listing market in Seoul. The two markets are related but independent; 10 ADS represent 1 common share, and ADS may trade at a premium or discount relative to the Seoul market price.