Korea Exchange moves into Nextrade's after-hours window
Korea Exchange will open real-time trading in most Kospi and Kosdaq stocks from 16.00 to 20.00 starting September 14. The Korea Herald and SBS News report that continuous matching replaces the ten-minute single-price system, putting the exchange into direct competition with Nextrade during the same hours.
Economics & Markets··Midday
The evening market expands to four hours
Korea Exchange will begin real-time after-hours trading from 16.00 to 20.00 on September 14, following the regular market's 15.30 close. The Korea Herald and SBS News report that the current 16.00-18.00 single-price system will be abolished and orders will match continuously by price-time priority. The change does not extend the regular session itself; it creates a separate post-close market. The ordinary opening and closing structure therefore remains in place.[1], [2]
Broad stock coverage, limited instrument types
The Korea Herald says most of the 831 Kospi and 1,811 Kosdaq names listed as of September 11 will be eligible. SBS News likewise reports coverage across Kospi and Kosdaq stocks, while exchange-traded funds and exchange-traded notes remain outside the initial launch. Market orders will not be accepted, and the daily price band stays at plus or minus 30 per cent of the previous close. Longer hours therefore do not mean every instrument becomes tradable.[1], [2]
Competition moves into the same time window
Nextrade already offers after-hours trading in about 610 stocks until 20.00. The Korea Herald reports that NXT has averaged a 10 per cent market share this year and reached 15.91 per cent in June, while Korea Exchange's fee of about 0.23 basis points exceeds NXT's 0.15 basis points. The launch puts the venues head-to-head from 16.00 to 20.00. The sources do not yet establish how liquidity will divide or which venue will offer better execution.[1]
