The Financial Supervisory Service held a joint briefing with relevant agencies ahead of the launch of the alternative trading system (ATS) in March next year. The ATS serves a role similar to that of the Korea Exchange, and if there are changes, the last stock transaction time will extend from the current 3:30 p.m. to 8 p.m.

On the 18th, the FSS held an 'ATS relevant agencies joint briefing' for about 250 employees of the financial investment industry at the Korea Financial Investment Association in Yeouido, Seoul. This was to enhance the understanding of multiple transaction markets among personnel responsible for financial investment companies ahead of the launch of the first ATS, NexTrade.

At this meeting, the FSS and other securities-related agencies explained that when the ATS is launched, transactions on the ATS would be stopped during the closing price single-price trading time of the Korea Exchange (from 3:20 p.m. to 3:30 p.m.). This is to minimize the impact on the closing price.

The Korea Exchange's announcement reception hours will remain from 7:30 a.m. to 6 p.m., as most announcements occur during this timeframe. However, if there is an announcement of a trading halt after the reception hours, the company must notify the ATS in advance.

In the after-hours single-price market conducted from 4 p.m. to 6 p.m. by the Korea Exchange, items traded on NexTrade will be excluded. This is because the trading methods of the two exchanges differ, which could lead to unfair transactions.

Currently, securities firms are operating a simulated market for a stable trading system of NexTrade. The final check will take place from the 13th of next month to February 28 of next year. NexTrade noted, 'The simulated market has been operating smoothly so far.'

The FSS emphasized that securities firms must prepare and provide a Best Execution Policy document to customers before accepting orders. It also explained the obligations of securities firms regarding changes to terms and conditions due to the introduction of the ATS and pre-notification to customers.

The FSS stated, 'We will thoroughly prepare to ensure stable transactions and actively support capital market innovations.'