Alphabiz - Macquarie Securities Becomes First Foreign Brokerage to Join Korea’s Alternative Trading System NXT

Photo courtesy of Yonhap News

[Alpha Biz= Ellie Kim] Macquarie Securities has become the first foreign brokerage to join Korea’s alternative trading system NextTrade (NXT), signaling growing interest from global financial institutions in the country’s evolving trading landscape.

According to industry sources on May 12, NextTrade approved Macquarie Securities’ membership application, marking the first entry by a foreign securities firm into the platform.

Other global firms, including JPMorgan Chase and Goldman Sachs, are also reportedly reviewing potential participation.

Macquarie Securities plans to begin trading on NXT’s pre-market and after-hours sessions in the third quarter of this year. By the fourth quarter, the firm aims to complete preparations for participating in the main market, which operates from 9:00 a.m. to 3:20 p.m., including implementation of a smart order routing (SOR) system.

SOR allows brokerages to automatically route client orders to the most favorable trading venue based on price, fees, and execution likelihood, even if investors do not specify an exchange.

With Macquarie’s addition, the total number of brokerages participating in NextTrade has increased to 34.

Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)