Last Year, Compensation Amount Increased More Than 9 Times Due to Errors in Securities Firms' HTS and MTS

[Asia Economy Reporter Choi Dae-yeol] The amount compensated by securities firms due to errors in Home Trading Systems (HTS) or Mobile Trading Systems (MTS) has increased significantly. According to data submitted by the Financial Supervisory Service to the office of Kang Min-guk, a member of the People Power Party, six securities firms?Mirae Asset Daewoo, NH Investment & Securities, Korea Investment & Securities, Shinhan Financial Investment, Kiwoom Securities, and Hana Financial Investment?compensated a total of 9.13853 billion KRW last year for HTS and MTS errors, an increase of more than 843% compared to the previous year.

The number of compensation cases reached 6,529, increasing by more than 500%. The number of complaints also rose nearly 800% to 9,477 cases. This appears to be due to an increase in errors such as connection delays as many people flocked to the stock market last year. The average daily trading volume on the Korea Exchange last year was about 12.2 trillion KRW, an increase of approximately 145% from the previous year. By securities firm, Kiwoom Securities had the highest compensation amount at over 5.7 billion KRW, followed by Korea Investment & Securities and Shinhan Financial Investment.