SK Hynix briefly fell to the 30% daily down limit at the open of pre-market trading on Nextrade on Aug. 6. Data from Nextrade showed that 11 shares changed hands at 1.168 million won per share at 8 a.m. local time. The stock later recovered most of the loss and was down only about 2% by the end of the pre-market session. Nextrade, also known as NXT, is an alternative trading system in South Korea that operates outside the Korea Exchange, or KRX. Its pre-market session uses continuous matching, which means orders are executed immediately when bid prices exceed ask prices. Even so, the venue still follows South Korea’s price-limit rules for equities. The upper and lower bounds remain tied to the previous trading day’s KRX closing price, with the band set at about 30%.
SK Hynix briefly hit the 30% daily down limit at the open of pre-market trading on Nextrade on Aug. 6.
According to Nextrade data, 11 shares traded at 1.168 million won per share at 8 a.m. local time. The stock later recovered most of the decline and ended the pre-market session down about 2%.
How Nextrade pre-market trading works
Nextrade, or NXT, is an alternative trading system in South Korea that operates outside the Korea Exchange, or KRX. Its pre-market session uses continuous matching. If a bid price is higher than an ask price, the order is executed immediately.
The market still remains subject to South Korea’s price-limit rules for stocks. The upper and lower limits continue to be based on the previous trading day’s KRX closing price, with the range set at about 30%.
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