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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] On the 19th, the Financial Supervisory Service (FSS) unveiled the "Best Execution Obligation Guidelines for Securities Firms," which includes allowing stock trading for 12 hours a day from 8 a.m. to 8 p.m., ahead of the launch of the alternative trading platform Nextrade.
The guidelines outline requirements under the Capital Market Act for securities firms to execute trades under the best possible conditions for investors. This includes establishing order execution systems and specific obligations.
Notably, the operating hours of Nextrade are included in the guidelines, attracting attention from investors. Nextrade, introduced to end the 70-year monopoly of the Korea Exchange, obtained preliminary approval from the Financial Services Commission in July last year and is set to launch on March 4 next year.
According to the guidelines, Nextrade will operate pre-market sessions from 8 a.m. to 8:50 a.m. and after-market sessions from 3:30 p.m. to 8 p.m., in addition to regular trading hours shared with the Korea Exchange (9 a.m. to 3:30 p.m.).
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
