South Korea's new alternative stock exchange Nextrade debuts
A second stock trading platform has opened in South Korea. Nextrade is set to bring competition to the stock market, ending a monopoly by the Korea Exchange — the country's only trading platform for nearly seven decades. NXT will operate on a 12-hour system, starting at 8am — unlike the Korea Exchange, which allows trading from 9am to 3.30pm. Transaction fees are also expected to be lower amid competition. Only 10 stocks will be listed on NXT at first, but the number is expected to increase to about 800 by end-March. Lim Yun Suk reports.
A second stock trading platform has opened in South Korea. Nextrade is set to bring competition to the stock market, ending a monopoly by the Korea Exchange — the country's only trading platform for nearly seven decades. NXT will operate on a 12-hour system, starting at 8am — unlike the Korea Exchange, which allows trading from 9am to 3.30pm. Transaction fees are also expected to be lower amid competition. Only 10 stocks will be listed on NXT at first, but the number is expected to increase to about 800 by end-March. Lim Yun Suk reports.
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