- Institutions and foreign investors wish to have their orders matched at the volume-weighted average price of the day, but the current rules provide no clear ground to allow traders to place orders targeting a specific price.
- In light of such demand, the rules have been revised to permit a new type of order, the aggregated volume of which is entrusted to be matched at a specific price(target price order).
Rules will be revised to reflect changes brought about by new communications technologies such as e-mail and messenger, and create a basis for receiving orders via such mediums(applicable to both markets).
- Orders placed via these new types of medium will be received in the same way that orders by phone or fax are received.
- Under the current rules, securities companies are prohibited from receiving new orders from a customer who has overdue payments for their executed trades(compulsory rules).
- However, the rules will be relaxed to allow securities firms to receive new orders from such customers, although to a limited extent, according to the contract, which will give more discretion to securities companies.