ACT proposes 30one-minute single-price trading for Samsung Electronics and SK hynix single-stock leveraged ETFs
The retail shareholder platform ACT said it will formally propose to the Presidential Office and financial authorities the introduction of '30single-price trading' for Samsung Electronics- and SK hynix-related single-stock leveraged and inverse ETFs. ACT argued that changing the trading method, instead of delisting, would curb ultra-short-term speculation.
The retail shareholder platform ACT said it will formally propose to the Presidential Office and financial authorities the introduction of 30one-minute single-price trading for Samsung Electronics- and SK hynix single-stock leveraged and inverse exchange-traded funds (ETFs). ACT said it is an alternative that can reduce market shock more than forced delisting.
After ACT held an emergency vote among members from 10to 12, a total of 2,099people participated, and it tallied that 95.2%, or 1,999people, were in favor of introducing 30one-minute single-price trading. Opponents accounted for 4.8%, or 100people.
ACT pointed out that, as trading becomes excessively concentrated in a company’s common stock and related single-stock leveraged and inverse ETFs, the market’s price-discovery function is being weakened. It also said the turnover rate of the related ETFs is far above the market average.
ACT said it will propose 30a minute-by-minute single-price system to curb ultra-short-term trading. The firm says refining the trading method, rather than delisting, could ease market shocks.
ACT said 13it plans to make this proposal public and submit an official request to the presidential office and financial authorities. The timing of the submission and the schedule for future regulatory discussions have not yet been disclosed.
Sources: 파이낸셜뉴스 증권
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