Korea Exchange Signs 2024 Market Making Contracts with 9 Securities Firms

The Korea Exchange announced on the 28th that it has signed market-making contracts for 2024 with nine member firms to enhance the price discovery function and liquidity of the stock market.

Accordingly, the nine member firms will continuously submit market-making quotes for the contracted market-making stocks throughout the next year to supply liquidity. The nine firms are Mirae Asset Securities, NH Investment & Securities, Meritz Securities, Kyobo Securities, Shin Young Securities, Hi Investment & Securities, SK Securities, Daol Investment & Securities, and IMC Securities.

Both the KOSPI market and the KOSDAQ market saw an increase in the number of market makers and the number of stocks subject to market making compared to this year. The number of market makers increased from 7 to 9 in the KOSPI market and from 7 to 8 in the KOSDAQ market, while the number of stocks subject to market making rose by 4% in the KOSPI market and 8% in the KOSDAQ market.

A Korea Exchange official stated, "The Exchange and the industry have made efforts to assign multiple market makers to market-making contract stocks, resulting in 84% of KOSPI stocks and 45.8% of KOSDAQ stocks having two or more market makers assigned per stock," adding, "The Exchange will continue to strive to increase the number of market-making contracts and enhance liquidity for stocks subject to market making."

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