On the 6th, as the KOSDAQ index surged, the Korea Exchange activated a program trading bid suspension (sidecar). This is the first time a KOSDAQ sidecar has been triggered in about 3 years and 5 months since June 16, 2020.
On the 6th, when the temporary short-selling ban took effect, the KOSPI and KOSDAQ indices surged sharply. The KOSDAQ even triggered a sidecar for the first time in 3 years and 5 months. Photo by Heo Younghan younghan@
The Korea Exchange announced that it activated the year's first sidecar at around 9:57 a.m. that day. The buy-side sidecar was triggered according to the relevant regulations after the KOSDAQ150 futures (December contract) rose more than 6% compared to the previous day, and the KOSDAQ150 index increased by more than 3%, sustaining for one minute. Accordingly, all program trading buy bids were suspended for 5 minutes from the time of activation.
The KOSDAQ market sidecar was introduced on March 5, 2001. This is the 30th time since the system's introduction that buy bid suspensions have been implemented.
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