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NextTrade (NXT), Korea’s Alternative Trading Platform. (Image credit: Yonhap) |
[Alpha Biz= Kim Jisun] Seoul, August 31, 2025 — NextTrade (NXT), South Korea’s first alternative trading system (ATS) launched in March, announced it will suspend trading of 53 stocks, including Hanwha Engine and Hyundai HIM Solution, in order to comply with the so-called “15% rule,” which caps ATS trading volume at 15% of the national market total.
According to NXT, trading in 22 KOSPI-listed stocks and 31 KOSDAQ-listed stocks will be halted from September 1 through September 30. The suspension applies to both NXT’s regular and closing auction markets.
On the KOSPI side, affected stocks include Hanwha Engine, HD Hyundai Infracore, Tongyang Life Insurance, Doosan Fuel Cell, Sanil Electric, and Pulmuone. On the KOSDAQ market, suspended names include LS Marine Solution, Global Tax Free, Robotis, AprilBio, and Hyundai HIM Solution. NXT stated that additional stocks may be suspended or suspension periods extended depending on future trading conditions.
The suspended stocks were selected based on trading volume, excluding those included in the KOSPI200 and KOSDAQ150 indices. Recent data show that other stocks — including Kolon Industries, S-Oil, and DongKook Pharmaceutical — have also exceeded 30% of average daily volume on the Korea Exchange (KRX) over the past six months, suggesting they may face suspension on NXT as well.
Under Korea’s Capital Markets Act, an ATS cannot account for more than 15% of the national average daily trading volume over the previous six months, calculated at the end of each month. The restriction is designed to prevent alternative platforms — which rely on KRX infrastructure for listing, market surveillance, and clearing — from gaining excessive market share and undermining the policy goal of fostering healthy competition.
NXT had already suspended 26 stocks, including YG PLUS, SK Eternix, SK Oceanplant, ISU Petasys, and Iljin Electric, starting August 20. With the newly added stocks, a total of 79 issues will be blocked from trading on NXT through the end of September. While trading of these names will remain available on the Korea Exchange during regular hours (9:00 a.m. – 3:30 p.m.), they cannot be traded on NXT’s extended hours (pre-market from 8:00 – 8:30 a.m. and after-market from 3:30 – 8:00 p.m.).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
