ATS Launch 'Countdown'... Preparatory Corporation 'NextTrade' Founding General Meeting

Photo by Moon Honam, on this day at the Korea Financial Investment Association, Yeongdeungpo-gu, Seoul.

[Asia Economy Reporter Hwang Yoon-joo] Preparations for the launch of the Alternative Trading System (ATS) are officially underway.

The Korea Financial Investment Association announced on the afternoon of the 10th that it held the inaugural general meeting of the preparatory corporation 'NextTrade Co., Ltd. (NextTrade)' with 34 investing institutions to operate ATS business.

At the inaugural general meeting, all 34 investing institutions, including 8 promoters, 19 securities firms, 3 securities-related organizations, and 4 IT companies, attended and resolved agenda items such as reporting the establishment, approving the articles of incorporation, and appointing directors and the first CEO.

Kim Hak-soo, former President of the Korea Financial Telecommunications and Clearings Institute, was unanimously appointed as the first CEO by the attending shareholders. Outside directors appointed were Shin Bo-sung, Vice President of the Korea Capital Market Institute, Ahn Hee-jun, Professor at Sungkyunkwan University Business School, and Jeon Sang-hoon, former President of the Korea Financial Investment Education Institute. Non-executive directors appointed were Na Jae-chul, Chairman of the Korea Financial Investment Association, Lee Man-yeol, CEO of Mirae Asset Securities, and Hwang Hyun-soon, CEO of Kiwoom Securities.

First CEO Kim Hak-soo stated, "We will build a system that can provide various trading services requested by the market and has high stability," and added, "We will establish a smooth cooperation system with related organizations and securities firms to make NextTrade function as a core infrastructure of the domestic capital market after approval, and we will do our best efforts."

Meanwhile, NextTrade plans to promptly proceed with the preliminary approval application through consultations with financial authorities, build the alternative trading system, obtain the official approval, and then open the market.

This content was produced with the assistance of AI translation services.