Seoul: South Korea's financial regulator announced on Monday that it, along with related agencies, is actively monitoring for unfair trading practices in the stock market following the recent launch of the country's first alternative stock exchange.
According to Yonhap News Agency, the Financial Services Commission (FSC) convened with the Financial Supervisory Service (FSS), the Korea Exchange (KRX), and other associated institutions to assess any loopholes in monitoring illegal and unfair stock trading subsequent to the launch of Nextrade (NXT) on March 4.
The regulator, in collaboration with these agencies, has established a unified market monitoring system since the NXT began operations. The FSC noted that with the extended trading hours offered by NXT, there could be an increase in unfair trading practices.
The NXT operates for 12 hours daily, from 8 a.m. to 8 p.m., which is longer compared to the main KRX bourse's trading hours of 9 a.m. to 3:30 p.m.