Nextrade Captures 30% of Korean Stocks in 12-Hour Sessions

Nextrade, South Korea’s new alternative trading system (ATS), has rapidly secured nearly 30% of the country’s $2.4 trillion stock market since its March launch. The platform offers 12-hour trading sessions—from before the Korea Exchange bell until 8 p.m.—and 20–40% lower fees. Retail investors account for 86% of Nextrade’s volume, while foreign participation has risen to 11%. Domestic institutions remain cautious over system stability. Regulators temporarily lifted the 30% single-stock cap after more than 500 issues hit the limit but maintained the overall 15% volume ceiling, forcing Nextrade to suspend trading in about 150 stocks. Nextrade’s rapid growth is pressuring KRX to consider extending its trading hours and underscores regulatory challenges in modernizing South Korea’s capital markets.