Sidecar Activated Amid KOSDAQ Market Surge... After 3 Years and 5 Months
On the 6th, as the KOSDAQ index surged, the Korea Exchange activated a program trading bid suspension (sidecar). This is the first time a KOSDAQ sidecar has been triggered in about 3 years and 5 months since June 16, 2020.
On the 6th, when the temporary short-selling ban took effect, the KOSPI and KOSDAQ indices surged sharply. The KOSDAQ even triggered a sidecar for the first time in 3 years and 5 months. Photo by Heo Younghan younghan@
View original imageThe Korea Exchange announced that it activated the year's first sidecar at around 9:57 a.m. that day. The buy-side sidecar was triggered according to the relevant regulations after the KOSDAQ150 futures (December contract) rose more than 6% compared to the previous day, and the KOSDAQ150 index increased by more than 3%, sustaining for one minute. Accordingly, all program trading buy bids were suspended for 5 minutes from the time of activation.
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The KOSDAQ market sidecar was introduced on March 5, 2001. This is the 30th time since the system's introduction that buy bid suspensions have been implemented.
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