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As one of the Korea Exchange (KRX) Advancement Strategy, KRX plans to lower its trading unit, from 10 (ten) shares to 1 (one) share, for all its stocks listed on the KOSPI market. This plan will be implemented from June 2, 2014 after changing relevant regulations and completing system development.
Details of the Plan
- Stocks : 10 shares (1 share in case of shares of which price is KRW 50,000 or higher) → 1 share
- DRs : 10 certificates → 1 certificate
- Beneficiary Certificates : 10 units → 1 unit
* There is no change in trading units of other shares such as ETFs (1 share), subscription warrants (1 warrant), subscription right certificates (1 certificate), and ELWs (10 warrants).
* In accordance with the anticipated adjustment in trading unit, market administration criteria based on trading unit will be modified to reasonable level. For example, to accommodate 1/10 times trim in trading unit, trading quantity allocation criterion for simultaneous quotations will be elevated by 10 times from the current criterion, to 100 times, 500 times, 1,000 times, 2,000 times trading unit and etc. This criterion is parallel to that of the KOSDAQ market, where the trading unit also is one share.
