[Alpha Biz= Kim Sangjin] Toss Securities compensated investors approximately ₩123.35 million following a trading system outage caused by a U.S.-based telecommunications issue in November, according to a report by News1 on Thursday.
The outage occurred on November 12, from 11:35 AM to 11:48 AM, when a failure in the U.S. telecom provider's system disrupted trading. This led to the rejection of buy and sell orders for stocks such as Tesla for about two hours, prompting investor complaints.
Although the issue did not stem from an internal system error at Toss Securities, the company fully compensated investors, deeming them not at fault for the disruption.
A Toss Securities representative explained, "Even though the issue was not caused by internal problems, we decided to provide full compensation proactively to protect investors and enhance trust."
This incident highlights a broader trend among domestic securities firms facing challenges with overseas trading systems. From January to November 2024, there were 34 reported overseas trading disruptions across 16 domestic securities firms, with 14 cases resulting in ₩300 million in compensation.
Samsung Securities also reported two outages caused by external factors this year. For one case in July, which was attributed to an overseas broker issue, the company compensated investors ₩126.44 million and subsequently sought reimbursement from the broker.
The incidents underscore the growing need for robust infrastructure to support seamless overseas trading and maintain investor confidence amidst the increasing globalization of stock markets.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
