Nextrade's daily average trade value climbs to over half of KRX: data
A person looks at a screen showing the prices of stocks traded on Nextrade, Korea's alternative stock trading platform in Seoul, March 31. Newsis
The average daily value of stocks traded on Korea's alternative stock trading platform, Nextrade (NXT), has climbed to over half of the amount traded on the country's main bourse, industry data showed Thursday.
The daily average stock turnover of NXT came to 8.2 trillion won ($5.9 billion) in the Aug. 1-12 period, according to data from NXT and the Korea Exchange (KRX).
The figure amounts to 50.8 percent of the daily average stock turnover of KRX during the same period, marking the first time the figure surpassed half the level of KRX since NXT started operations on March 4.
Investors on average traded 202.5 million shares per day on NXT over the 12-day period, accounting for 17.4 percent of the average trading volume on KRX during the cited period.
NXT's market share based on the platform's daily average stock turnover has also rapidly grown, from 3.8 percent in early April to 31.8 percent in July and 33.8 percent in August.
The number of stocks listed on the alternative platform has increased from 10 to 788 over the five-month period, according to the data.