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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] Settlement cancellations for U.S. stocks traded during the daytime in Korea have been delayed, causing customer accounts of domestic securities firms to remain inaccessible until after midnight on August 5.
Customers using a securities firm's mobile trading system (MTS) were notified of settlement cancellations after 2:45 PM the previous day. Their account balances were locked, preventing them from trading until the process was completed.
The previous day's unilateral cancellation of day market stock transactions by the U.S. alternative trading system (ATS) BlueOcean caused some delays in pre-market trading for domestic securities firms, but most firms completed the cancellation process before the U.S. regular market opening at 10:30 PM.
However, some customers were unable to trade even after the U.S. market opened.
A securities firm representative announced late the previous night that “the settlement cancellation process is taking longer than expected” to customers trading U.S. stocks.
Trading normalization occurred early the following morning.
International stock investors have reported losses due to being unable to place orders in the volatile market.
On August 5 (local time), NVIDIA, a leading AI semiconductor company, saw its stock price drop by approximately 20% to $92 from the previous day's close, but it recovered to the $100 mark within about 30 minutes due to significant price fluctuations.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
