KOFIA, "Blue Ocean Trading Suspension... Service Resumption to Be Decided After Stability Verification"

The Korea Financial Investment Association announced on the 14th that it is taking measures to protect investors and prevent recurrence in relation to the suspension of trading by Blue Ocean Technologies, LLC (hereinafter Blue Ocean), an alternative trading system in the United States, which occurred on the 5th of this month.

On the same day, the association sent a statement to Blue Ocean on behalf of securities firms providing the 'weekly trading' service for U.S. stocks through Blue Ocean. It strongly demanded a thorough investigation into the cause of the system failure and the establishment of measures to prevent recurrence.

Currently, Blue Ocean has announced that it is conducting system improvement work. Considering the possibility of another order reception suspension, 19 domestic securities firms have decided to temporarily suspend weekly trading starting from the 16th of this month.

This decision was made based on the judgment that not resuming weekly trading until the system's stability is confirmed is an appropriate measure to protect investors. The decision to resume the service will be made after the system stability of Blue Ocean is sufficiently verified.

The association will strive to secure the reliability of the trading system to prevent similar issues from recurring and will continue to respond in cooperation with the financial investment industry to protect investors.

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