Capital Market Opinion (Ceased)
2013 Apr/30
Preconditions for the Introduction of ATS
April 30, 2013
PDF
- Summary
- If the revision of the Financial Investment Services and Capital Markets Act (FSCMA) goes into effect, Korea’s stock exchange market, which is currently dominated by a single exchange, will fragment into multiple exchanges, thus triggering competition. The revised bill allows for the establishment of ATS, a trading venue without the listing function. The primary purpose of the revision is to facilitate competition for the sake of greater efficiency of market infrastructure. Thus, follow-up measures should be taken to promote efficiency in competition, as well as to ensure that all orders are equally protected.