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bourse operator-unfair trading

Bourse operator to enhance monitoring system to detect unfair stock trading

SEOUL, Sept. 25 (Yonhap) -- South Korea's bourse operator said Monday it will strengthen a system to detect unfair stock trading following a series of stock manipulation cases this year.

The Korea Exchange (KRX) announced a set of measures it will take to increase its capacity to crack down on unfair trading.

Under the measures, the KRX plans to create a guideline to monitor and detect mid- to long-term unfair trading similar to a stock manipulation case where a group of members of an online trading community allegedly raised 700 billion won (US$524.4 million) by manipulating the stock prices of eight companies listed on the main KOSPI and the secondary KOSDAQ indexes from May 2019 to April of this year.

Until now, the KRX only had a guideline for cracking down on alleged stock manipulation cases that happen over a maximum of 100 days as most of the cases happen in a short period of time.

The KRX's alert system will also be improved to notify investors of stocks that show irregular movement patterns in the long term.

The KRX also plans to share information about suspected unfair trading cases with other financial authorities in the early stages of investigation and strengthen cooperation with them.

The KRX plans to start enforcing the measures later this year.

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