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Photo: Korea Exchange |
[Alpha Biz= Paul Lee] The Korea Exchange (KRX) is reviewing a plan to postpone the implementation of extended stock market trading hours to the second half of this year after facing pushback from parts of the securities industry.
According to the financial investment industry on March 5, the exchange held an emergency meeting with member securities firms to discuss the proposed extension of trading hours.
During the meetings—held in three sessions throughout the morning—KRX said it would consider adjusting the implementation timeline in response to concerns raised by brokerage firms.
One attendee said, “Last month the Korea Financial Investment Association (KOFIA) collected opinions from the securities industry and delivered them to the exchange. Today’s meeting was held for the exchange to explain its position to member firms.”
Earlier, KOFIA had submitted an official statement outlining industry concerns about the trading hours extension plan.
Many brokerage firms argued that the previously proposed implementation date of late June leaves too little time for preparation.
Firms noted that additional time is needed to upgrade IT systems and complete operational preparations, particularly given limited personnel resources.
The exchange is expected to review the industry’s requests internally after gathering feedback during the meeting.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
