On Feb. 5, KRX published revised market surveillance regulations.
KRX published the revised Regulations on market surveillance, which allow the Market Surveillance Committee to conduct surveillance, review, supervision re ATS trading.
Document dated Feb. 5, 2025, was received on Feb. 13, 2025 due to a fixed feed.
Outline of Revisions
Market surveillance target is trading in KRX and the alternative trading system (ATS).
Members are defined as KRX members are ATS trading participants; Market Surveillance Committee is tasked re prevention/monitoring/supervision of ATS trading.
Request information on quotations and trading from the ATS, to monitor the status of ATS quotations in accordance with article 78 paragraph 3 of the Capital markets act.
Notify ATS of the fact that trading participants have violated business standards as a result of examination or supervision; establish a legal basis to require disciplinary actions against trading participants and notify ATS of the fact re disciplinary actions.
Lower late payment penalty rate to 6% per annum according to capital markets laws.
Effectiveness
The revised regulations will be implemented from Mar. 4, 2025.
Regulators
KRX
Entity Types
B/D; Corp; Exch; HF; Inv Co
Reference
RF 2281, 2/5/2025; CP 8, 9, 12/12/2024; Law 20718, 1/21/2025;
