SEOUL — South Korea will launch its first alternative stock trading system (ATS) next week to allow for longer trading hours and lower fees — and slimmer broker margins — as authorities try to reverse a trend in which individuals pull their money out of local investments and send it to better-performing overseas bourses.
Nextrade opens for business on Tuesday, the Financial Services Commission (FSC) said. Mirae Asset, Samsung, Yuanta and 25 other brokerages will offer their services on the new platform.
