Gate News message, April 24 — South Korea’s Korea Exchange (KRX) cited the listing of Korean stock market products by a major global digital asset exchange as justification for extending trading hours. The exchange said it needs to extend trading hours and improve market infrastructure to compete for global liquidity amid growing competition from international venues.
KRX was referring to a major digital asset exchange that launched perpetual futures contracts (unlimited-duration futures) based on the iShares MSCI Korea ETF (exchange-traded fund) on March 16. The ETF tracks large and mid-cap Korean stocks. The exchange explained that global venues like the New York Stock Exchange (NYSE) and Nasdaq are building 24-hour trading systems to capture liquidity from Asia, particularly South Korea.
KRX stated that these global exchanges are extending trading hours not due to time zone differences within their own countries, but to gain an edge in global liquidity competition. The exchange emphasized that it aims to secure future growth drivers by improving stock market infrastructure, including extended trading hours, to compete not only with other Asian exchanges but also with top-tier global digital asset exchanges seeking to attract its liquidity.
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