KOSPI Market Activates 'Buy Sidecar' Today
On the 20th, as the KOSPI and KOSDAQ indices started higher, dealers were busy working in the KB Kookmin Bank dealing room in Yeouido, Yeongdeungpo-gu, Seoul. The won-dollar exchange rate opened at 1,253.7 won, down 32.0 won. Photo by Moon Honam munonam@
View original image[Asia Economy Reporter Geum Bo-ryeong] On the 20th, a buy-side sidecar (program trading bid suspension) was triggered in the KOSPI market.
The Korea Exchange announced that at 11:22 a.m. that day, the KOSPI 200 futures (most recent contract) rose from the previous closing price of 197.50 points to 208.00 points, an increase of 10.50 points (5.31%), and sustained for one minute, triggering the sidecar.
As a result, the effectiveness of program trading buy bids was suspended for 5 minutes from the activation time until 11:27 a.m.
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This is the fourth time this year that a sidecar has been triggered. The previous three times involved suspension of sell bids, and this is the first time for buy bid suspension.
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