However, the specific provisions of the rules governing the unique aspects of the individual markets will remain intact.
Major Changes
The following rules of the KOSDAQ Market will replace the corresponding rules of the Stock Market Division
- The quotation unit for ETFs will be unified as 5 won.
- In the event of moving from the KOSDAQ Market to the Stock Market, the closing price of the last trading day will be valid as the basis for determining the starting price.
- The limit-to-market-on-close quotation will be introduced into the KOSDAQ Market.
- The definition of short selling will be clarified and expanded to include “sale without actually owning stocks”.
- The permissible scope of short sale will be expanded to include the sale of stocks after having requested the conversion of DRs and sale before returning the borrowed stocks. The effects of price regulations will be increased by limiting quotations to less than the immediately preceding price, except in a rising market.
- The basis for determining a system failure and the methods of market management will be clarified and specified.
- In case of a stock repurchase from a public entity through off-hours block trading, same-day settlement will be allowed.
- DRs of foreign listed stocks will be included for determining collateral prices.
- Changes in the contract and the criteria for imposing margins and fees should be notified within 5 days.