As some in the securities industry continue to push back against extending stock market trading hours, the Korea Exchange (KRX) gathered brokerages' views on how much preparation time would be needed if it delays implementation to the second half of this year. There is talk that the rollout, originally slated for the end of June, could be pushed back.
According to the financial investment industry on the 5th, the Korea Exchange (KRX) held an emergency meeting with member firms that day on the extension of trading hours and listened to industry opinions.
The meeting was held three times from the morning, targeting large, mid- to small-sized, and foreign securities firms. At the meeting, reflecting the securities industry's concerns, the exchange collected opinions related to the implementation timeline, such as how much grace period would be needed if it adjusts the schedule for extending trading hours.
Earlier, the Korea Financial Investment Association delivered an official opinion letter to the exchange outlining the industry's burden regarding the push to extend trading hours. After the exchange confirmed the implementation within the first half, concerns were raised that the preparation period would be tight given limited staffing and system development schedules.
The exchange has been pursuing a plan to expand daily trading hours from the current 6 hours and 30 minutes to as long as 12 hours in line with global market trends. The initial goal was to implement it by the end of last year, but as the schedule was delayed, it has now decided to introduce a 7–8 a.m. pre-market and a 4–8 p.m. after-market starting on June 29.