Mirae Asset Securities Completes Preparation of Order Execution IT System for Multiple Exchange Framework

Mirae Asset Securities announced on the 28th that it has completed the preparation of its brokerage trading IT system in response to the multi-exchange system.

With the launch of Korea's first alternative exchange, NextRate (NXT), on the 4th of next month, changes will occur in the domestic stock market. Trading hours will be extended to 12 hours a day, from 8 a.m. to 8 p.m., and new order types will be introduced.

Accordingly, Mirae Asset Securities has reorganized the domestic stock order environment based on the existing order system and introduced a Smart Order Routing (SOR) system to minimize customer confusion. SOR is a system that transmits investors' order instructions to the exchange that offers more favorable execution conditions at the time of order placement, in accordance with Mirae Asset Securities' "best execution standards." Through this, investors can place orders without worrying about exchange selection, and if necessary, they can directly specify the exchange for their orders. Additionally, Mirae Asset Securities enhanced transaction stability through SOR redundancy and focused on order speed management with a new large-capacity system.

Mirae Asset Securities also plans to provide ‘Rebalancing’ and ‘Automatic Exchange Switching’ services. Rebalancing is a function that automatically corrects orders to a more favorable exchange considering factors such as price and order volume for execution possibility. The upcoming Automatic Exchange Switching service, currently under preparation, will automatically switch orders to the Korea Exchange when the alternative exchange is closed, considering opening price, closing price, and call auction, and after the Korea Exchange’s regular session ends, it will automatically transfer unexecuted order volumes to the alternative exchange’s aftermarket, thereby enhancing customer convenience.

A representative from Mirae Asset Securities said, "After the launch of the alternative exchange, we will continue our efforts to improve the trading stability and convenience for investors in the multi-exchange system."