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사진=한국거래소 |
[Alpha Biz= Kim Jisun] Financial authorities are currently investigating the recent system outage on the Korea Exchange (KRX) during the trading hours of the KOSPI market. The authorities are considering a full inspection to identify the cause of the issue and take necessary action.
According to the financial authorities on Sunday, the Financial Supervisory Service (FSS) is looking into the incident on March 18, where KOSPI stock trading was halted for about seven minutes due to a system error on the exchange.
An FSS official stated, “We are reviewing the situation with the exchange to determine whether an inspection is needed and when it should be conducted. The suspension of trading on the securities market is certainly an event that must be examined by authorities.”
This was the first time that trading for all KOSPI stocks was suspended during regular hours since the Korea Exchange’s integration in 2005. The exchange attributed the cause of the technical issue to a conflict between the newly introduced "mid-price bidding" and the existing logic following the launch of the alternative trading platform NextTrade. However, given the potential impact on the global credibility of Korea’s capital markets, the FSS is likely to assess whether a formal inspection is warranted.
As a result, the FSS is expected to review the trading systems of both the KOSDAQ and KOSPI markets, as well as examine the overall system stability since the launch of NextTrade. The authorities are also anticipated to demand concrete measures to prevent a recurrence of such incidents.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
