NXT to start first trade at '8:02 AM' next year... Introducing opening price call auction

[Exclusive] NXT to start first trade at '8:02 AM' next year... Introducing opening price call auctionn.news.naver.comThe Alternative Trading System (ATS) Nextrade will introduce an opening price call auction (single price auction) to its pre-market starting January 18 next year. Under this method, buy and sell orders will be collected for two minutes starting from 8:00 AM to determine the opening price, shifting the first trade time from the current 8:00 AM to 8:02 AM.
According to financial investment industry sources on the 20th, Nextrade recently notified participating securities firms of this system reorganization schedule. A Nextrade official stated, "Detailed operational plans are currently under consultation with financial authorities."
Currently, the pre-market operates via continuous trading, where buy and sell orders are executed immediately if the prices match. After the reorganization, orders received during the first two minutes of the market opening will be executed at a single price, after which the system will switch to continuous trading.
The move aims to address issues where the opening price is distorted by small-volume trades during periods of low liquidity at the market open, such as the recent case where SK Hynix hit its lower limit due to a single-share trade in the pre-market. To strengthen price stability, Nextrade introduced a static Volatility Interruption (VI) mechanism on the 14th of last month, which collects orders for two minutes if a trade is about to occur at a price that fluctuates by more than 10% compared to the reference price.
Industry experts expect that since the trading method is being changed within the existing trading hours, the planned operating hours will not change significantly.