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| - | ====== Korea Exchange (KRX) ====== | ||
| - | KRA is the primary equities exchange in Korea. | ||
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| - | [[http:// | ||
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| - | Currency: South Korean Won (KRW)\\ | ||
| - | Time Zone: UTC +09:00 | ||
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| - | [[http:// | ||
| - | [[https:// | ||
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| - | ==== Lit Order Types ==== | ||
| - | * Limit Buy/ | ||
| - | * Market Buy/ | ||
| - | * Market-on-Open/ | ||
| - | * Limit-on-Open/ | ||
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| - | ==== Basic Market Rules ==== | ||
| - | * Lot Size: 10 shares (1 share if base price of the issue on that day is above KRW 50,000). | ||
| - | * Tick Size: up to KRW 1000 = 1 ; 1000 to 5000 = 5 ; 5000 to 9990 = 10; 10000 to 49950 = 50; 50000 to 99900 = 100; 100000 to 499500 = 500; greater or equal to 500000 = 1000. | ||
| - | * Daily Price Limit: the current price limit in the KOSPI market is 15% for stocks, KDRs, and ETFs. | ||
| - | * Short Sale Rules: short selling is permitted subject to restrictions and regulations. Short sales should be reported as such to the exchange. All short sales must be executed on the uptick. | ||
| - | * Circuit Breakers: all trading shall be suspended if KOSPI decreases continuously for 1 minute by more than 10% of the closing price of the previous day. Once circuit breakers is exercised, a suspension occurs for 20 minutes. The KRX resumes trading 20 minutes after the issue of circuit breakers. The first price shall be formed in single price for 10 minutes from resumption and then crowd trading shall be applied. | ||
| - | ==== Auction Mechanisms ==== | ||
| - | === Periodic Call Auction === | ||
| - | Periodic call auction is a method of trading to be used when it is greatly necessary to form price balance through concentration of demand and supply, and it receives offers and bid for a certain time and then trading is concluded in a single price with priority among offer prices in accordance with the principle of priority in price and time. | ||
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| - | === Quantity Allocation in Periodic Call Auction when opening price is formed in the upper or lower limit price === | ||
| - | In case of periodic call auction, trading is concluded according to the principle of priority in price·time, | ||
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| - | * 10 times of trading quantity unit\\ | ||
| - | * 50 times of trading quantity unit\\ | ||
| - | * 100 times of trading quantity unit\\ | ||
| - | * 200 times of trading quantity unit\\ | ||
| - | * a half of balance (quantity below the said unit shall be rounded off to the nearest integer)\\ | ||
| - | * remainder\\ | ||
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| - | If opening price is determined as KRW20,150 (the upper price limit), for instance, quantities at selling offer price shall be allocated according to the order of priority in quantity between buying offers at the upper price limit. | ||
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| - | ==== Close ==== | ||
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| - | The single price auction is used to determine the closing price on KOSDAQ using price/time priority. | ||
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| - | Market on Close orders are treated as priced at most recent market price. In case there are more aggregated offer market orders, the market on close orders are treated as priced at one tick lower than the most recent market price. In case there are more aggregated bid market orders, the market on close orders are treated as priced at one tick above the most recent market price. | ||
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| - | The total quantity of offer order priced lower than the match price (closing price) and the total quantity of bid order priced higher than the match price is matched and executed. | ||
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| - | Orders quoted at the match price, the total quantity of either bid or offer quotation is matched. Of the quantity in excess of the quantity of the other side, the quantity in excess of the quantity of trading unit of the concerned issue is matched. | ||
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| - | In case there are more than two (2) matched prices in rules above, if there is a price that is equal to the most recent market price, it shall be the match price, if there is no price that is equal to the most recent market price, the price that is closest to the most recent market price. | ||
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| - | **Auction Periods** | ||
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| - | Order input period **(14:50 - 15:00)**. If the reopening of the market falls within 20 minutes before market closing time **(15: | ||
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| - | Order matching **(15:00)** | ||
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| - | **Order Types** | ||
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| - | * Limit order with TIF set to DAY | ||
| - | * Market order with TIF set to DAY | ||
| - | * Market on Close order with TIF set to DAY | ||
| - | ===== Additional Info ===== | ||
| - | For more information on the rules governing the KRX auctions and trading, see the [[https:// | ||
| - | ==== Financial News ==== | ||
| - | * [[http:// | ||
| - | * [[http:// | ||
| - | * [[http:// | ||
| - | ==== Market Data ==== | ||
| - | * [[http:// | ||
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| - | ===== See Also ===== | ||
| - | * [[market_guides|Market Guides]] | ||
krx.1485793404.txt.gz · Last modified: 2017/01/30 11:23 by maya