Sangsangin Investment & Securities said that starting on the 27th it will officially participate in the entire market of "NEXTRADE (NXT)," Korea's first alternative trading system (ATS).
Launched in March, NEXTRADE (NXT) is the country's first alternative trading system, and to join the main market, securities firms must have a smart order routing (SOR) system. SOR is an automated order transmission system developed to route orders to the trading market most advantageous for customers under best execution standards.
With the SOR rollout, Sangsangin Investment & Securities customers can have trades executed automatically in the market—between the Korea Exchange (KRX) and NEXTRADE (NXT)—that offers the more favorable price terms. When share prices are the same, orders are executed first on NEXTRADE (NXT), which has relatively lower trading fees.
Sangsangin Investment & Securities has been advancing system integration with NEXTRADE (NXT) and verifying stability step by step. The company noted that by joining the entire NEXTRADE (NXT) market, it can respond to market volatility more flexibly and efficiently, and has further strengthened the quality of its financial services and transaction stability.
In particular, NEXTRADE (NXT) operates a pre-market and after-market, extending trading hours to 12 hours from 8 a.m. to 8 p.m. That is nearly double the existing 6 hours and 30 minutes on the Korea Exchange's regular session. As a result, Sangsangin Investment & Securities customers can trade stocks before work or after work.
Ju Won, CEO of Sangsangin Investment & Securities, said, "We will help strengthen the competitiveness of the domestic capital market by expanding investors' access to the market and improving trading convenience."