South Korea will launch an alternative trading system, Nextrade (NXT), in March to enhance efficiency and convenience in securities trading, the Financial Services Commission (FSC) said. NXT will operate for 12 hours, from 8:00 a.m. to 8:00 p.m., compared with the Korea Exchange’s (KRX) 9:00 a.m. to 3:30 p.m. trading hours. It will offer lower fees, different bid-ask prices, and allow short-selling, except during pre-market and after-hours sessions. The platform will adopt KRX’s daily stock price limits and market stabilisation measures, such as circuit breakers. A total of 32 brokerage houses will participate, and around 800 companies will be listed. The move marks a significant overhaul of South Korea’s stock market, which has been solely operated by KRX since 1956.