Kakao Pay Securities to Join NextTrade Main Market Starting October 27
Full-Scale Operation of Smart Order Routing (SOR) System
Simultaneous Trading on KRX and NXT During Regular Market Hours
Kakao Pay Securities is set to officially enter the main market of NextTrade, a domestic alternative trading system (ATS). With the formal implementation of trading utilizing the Smart Order Routing (SOR) system, investors will be able to execute stock trades under more favorable price conditions.
On October 27, Kakao Pay Securities announced that it will participate in the NextTrade main market starting today. This expands its trading scope from its previous conditional participation in the pre-market (8:00 a.m. to 8:50 a.m.) and after-market (3:40 p.m. to 8:00 p.m.) since March, to include regular trading hours (9:00 a.m. to 3:20 p.m.).
The company has completed system stabilization and transaction verification procedures, and has passed regulatory inspections, thereby meeting all technical requirements for main market participation.
With its entry into the NextTrade main market, Kakao Pay Securities will now facilitate stock trading simultaneously on both the Korea Exchange and NextTrade. 'Trade orders' submitted by users will be automatically distributed (via SOR) to the market offering the most favorable trading conditions at the time of order transmission, thereby enhancing execution efficiency and investor satisfaction.
The SOR system is designed to automatically allocate orders by searching in real time for the optimal price, speed, and fee conditions for investors. With this update, users can expect better execution prices for the same orders through competition between markets.
Currently, approximately 650 stocks listed on KOSPI and KOSDAQ can be traded on NextTrade. The number of tradable stocks is expected to gradually increase as NextTrade's business regulations are amended in the future.
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Kakao Pay Securities stated, "Our participation in the NextTrade main market is a practical implementation of our 'best execution obligation' to provide investors with a more advantageous trading environment," adding, "We will continue to create an environment where users can trade under the most efficient conditions by exploring price differences between markets in real time."
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