The dealing room of Hana Financial institution in Seoul is seen, Tuesday. Yonhap
The Korea Trade (KRX) has submitted plans to increase inventory buying and selling hours to just about 12 hours from as early as June and is getting ready to collect opinions from its members, business sources stated Tuesday.
Underneath the plan submitted to the Monetary Service Fee (FSC) on Monday, the KRX seeks to supply pre-market buying and selling from 7 a.m. to eight a.m. and an after-hours market from 4 p.m. to eight p.m.
The bourse operator is about to collect opinions from member companies as early as this week to determine on the precise schedule, they added.
At the moment, KRX’s common buying and selling hours run from 9 a.m. to three:30 p.m.
KRX Chairman Jeong Eun-bo has repeatedly pledged to increase inventory buying and selling hours, in step with world exchanges, similar to Nasdaq, taking steps to introduce a 24-hour buying and selling service.
It additionally comes amid the rise of Nextrade, the nation’s various buying and selling platform launched in March, which runs from 8 a.m. to eight p.m.
In the meantime, the bourse operator can also be reportedly planning to increase buying and selling hours for derivatives, from the present 19 hours to 24 hours by the tip of subsequent 12 months.
The settlement cycle for inventory trades shall be shortened from the present T+2 system to T+1 system, although when the brand new system shall be applied is unknown, in line with the sources.
