An individual walks previous the brand of Nextrade on this undated file picture. Yonhap
Korea’s first various inventory buying and selling platform set sail Tuesday, bringing a 12-hour buying and selling system, in addition to higher effectivity and comfort to the buying and selling of securities.
The Korea Trade (KRX), launched in 1956, has been the nation’s solely nationwide operator of the inventory market, however the launch of the nation’s secondary inventory buying and selling platform, named Nextrade (NXT), is anticipated to facilitate competitors within the nation’s inventory change panorama.
The NXT runs for 12 hours from 8 a.m. to eight p.m., longer than the buying and selling hours from 9 a.m. to three:30 p.m. of the principle KRX bourse.
The NXT additionally provides decrease charges in contrast with the principle bourse and introduces totally different inventory bid and ask costs.
Whereas quick promoting is allowed, it’s banned throughout pre-market (8 a.m. to eight:50 a.m.) and after-market buying and selling hours (3:30 p.m. to eight p.m.), in accordance with the NXT.
The KRX’s each day inventory worth limits and market stabilization measures, corresponding to a circuit breaker, are additionally utilized on the NXT.
A complete of 32 brokerage homes joined the NXT, and though the NXT began with solely 10 corporations being traded, the quantity will rise to 800 in a month. (Yonhap)
