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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] On the 5th, due to a sharp decline in the stock market, the weekly trading (day market) service for U.S. stocks offered by securities firms was completely suspended in the afternoon. This was due to a surge in sell orders all at once. The pre-market trading service, which starts at 5 PM, was also delayed. Many investors who intended to sell stocks in advance received notifications of 'trade cancellations.'
On the same day, day market services were fully suspended from 2:45 PM for all domestic securities firms, including Samsung Securities and NH Investment & Securities. This service allowed trading of U.S. stocks during Korean daytime hours through alternative trading systems (ATS) in the U.S.
Securities firms explained that the trading was completely suspended due to an excessive influx of sell orders to Blue Ocean, an ATS responsible for local trading in the U.S. All domestic securities firms partner with Blue Ocean for their day market services. A representative from a securities firm stated, “Normal trading could not proceed due to exceeding the order limits of the local ATS, resulting in new orders being rejected. The pre-market trading scheduled to open from 5 PM was also temporarily suspended until this issue is resolved.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
