Commissioner Kim Byeong-hwan said on the 4th, "The financial authorities and the Korea Exchange will block unfair transactions through strict market monitoring and thoroughly manage multiple markets to ensure no loopholes in investor protection."
On the same day, Commissioner Kim attended the opening ceremony of the country's first alternative trading system (ATS) 'NextTrade (NXT)' held at the Financial Investment Center building in Yeouido, Seoul, and said, "The launch of NextTrade has significant implications as a value-up in the trading infrastructure of stock and capital markets."
Commissioner Kim noted, "With improved market accessibility and liquidity, investors are expected to enjoy various benefits as the base of the stock market expands," and added, "Healthy competition between multiple markets will reduce transaction fees, and the extension of stock trading hours will allow working investors to invest comfortably before and after work."
The era of multiple stock trading markets in the country opened 12 years after the introduction of the ATS system in 2013. Commissioner Kim remarked, "Since it was launched after long discussions and efforts, I ask everyone to unite to ensure the new market is successfully established," and stated, "The government will also support its successful establishment and will back it up for further development."
NextTrade commenced full operations at 10 a.m. on the same day. Starting from the 5th, investors will be able to conduct stock transactions for 12 hours daily from 8 a.m. to 8 p.m. Only 10 stocks, including Lotte Shopping, Cheil Worldwide, Kolon Industries, LG Uplus, SFA Engineering Corporation, GOLFZON, Dongkook Pharmaceutical, Com2uS, YG Entertainment, and others, will be traded during the initial two weeks until the 16th. The number of stocks will be gradually increased, with a total of 800 stocks available for trading starting at the end of this month.
Meanwhile, over 200 people attended the opening ceremony, including National Assembly Committee on Political Affairs Chairperson Yoon Han-hong, Commissioner Kim Byeong-hwan, Financial Supervisory Service Governor Lee Bok-hyun, Korea Exchange Chairperson Jeong Eun-bo, Korea Financial Investment Association Chairperson Seo Yoo-seok, Korea Securities Depository CEO Lee Soon-ho, Korea Securities Finance Corporation CEO Kim Jeong-gak, Koscom CEO Yoon Chang-hyun, and representatives from brokerage firms participating in NextTrade.
Kim Hak-soo, CEO of NextTrade, stated, "We will strive to contribute to the value-up and continuous growth of our capital market through the establishment of a stable trading system."