[The 24-Hour Trading Era Is Coming②-2] “Too Much Staffing Burden, Too Many Risks" : Voices from the Field

Results of an Anonymous Survey of 15 Domestic Securities Firms
60% Say "24-Hour Trading in Korea Is Unnecessary"
Some Argue, "We Should Not Give Up Our Competitiveness"

Concerns and expectations surrounding the era of 24-hour stock trading are also evident within the domestic financial investment industry.

According to an anonymous survey conducted by The Asia Business Daily on November 12, 2025, targeting 15 domestic securities firms, more than 60% (9 firms) responded that introducing 24-hour trading to the Korean stock market is "unnecessary." Specifically, 53.3% answered "unnecessary," while 6.7% said it is "very unnecessary." Only 20% responded that it is "necessary," and there were no responses indicating it is "very necessary."

This suggests that securities firms feel a significant burden regarding the need for additional personnel, risk management systems, and system expansion associated with extending trading hours. In particular, many expressed doubts about the cost-effectiveness of such a move. A representative from one securities firm stated, "I don’t see any positive aspects that would increase with the extension of trading hours, so there’s no need to push for it unnecessarily."

Regarding the Korea Exchange’s plan to introduce an "8 to 8" (12-hour) trading system within the year and eventually transition to a 24-hour system, more than half (60%) of the surveyed securities firms answered that "expanding to 8 to 8 is sufficient, and further expansion to 24 hours should be reconsidered." Additionally, 13.3% responded that "a transition to a 24-hour system is realistically difficult."

The greatest concern cited about the introduction of 24-hour trading was "price distortion and increased volatility during nighttime hours" (66.7%). This was followed by "increased fixed costs due to the need for continuous system operation and monitoring" (53.3%), and "the possibility of wider spreads due to a lack of liquidity" (40%).

Such concerns are also being echoed in the United States, where 24-hour trading is set to launch next year. Previously, Citadel submitted a 29-page opinion letter to the U.S. Securities and Exchange Commission (SEC), pointing out that expanding to 24-hour trading could inevitably lead to liquidity fragmentation, price distortion, and increased risk of operational errors.

However, there are also increasing calls that Korea should not give up its "competitiveness" in a situation where virtual assets such as Bitcoin are already traded 24 hours a day and major exchanges in countries like the United States are moving quickly. A representative from another securities firm emphasized, "The United States and coins, which are competitors to KOSPI, are moving to extend trading hours. We should not voluntarily give up our competitiveness just because of risks or union issues."

In this survey, 40% of respondents said they expect trading volume to increase with extended trading hours, exceeding those who answered "average" (33.3%) or "low" (26.7%). Likewise, 46.7% predicted that brokerage commission revenue would increase, outpacing those who answered "remain the same" (33.3%) or "uncertain" (13.3%). A representative from a third securities firm commented, "We should align with global standards, but pursue changes gradually."