Seoul: South Korean brokerages are preparing to reopen daytime trading of U.S. stocks in early November, more than a year after suspending the service due to system issues. Industry sources revealed that starting as early as November 4, investors will once again be able to trade U.S. stocks from 9 a.m. to 5 p.m. However, the exact timing of the resumption will depend on the individual brokerages involved.
According to Yonhap News Agency, daytime trading of U.S. stocks in Korea has been on hold since August 5, 2024. This suspension was triggered by a mass cancellation of orders from local investors following a system failure by Blue Ocean, the sole platform at the time processing U.S. stock orders for local brokerages. To prevent a repeat of such incidents, Korean brokerages have reportedly partnered with other alternative trading platforms, including Bruce and Moon.
The Korea Financial Investment Association has mandated brokerages to employ at least two brokers to handle unexpected events and emphasized the importance of implementing investor protection measures. This development comes amid delays in the launch of a 24-hour trading service on the New York Stock Exchange, which was initially announced in October last year.
Local brokerages have gained confidence after Korean financial authorities determined in July that it would be difficult to hold securities firms legally accountable for losses resulting from the suspension of overseas stock daytime trading. In August, the value of U.S. equities owned by local investors reached US$133.6 billion, marking a 53.2 percent increase from the previous year, according to data from the Korea Securities Depository.