On the 14th, when KRX (Korea Exchange) opened its aftermarket for the first time, a problem occurred in the Best Order Execution System (SOR) operated by NextTrade, causing trading system failures at some securities firms. Incidents included failure to reflect cancellations of pre-market stock trade orders and inability to view transaction details or account balances.
According to the financial investment industry, shortly after NXT opened at 8 a.m., errors occurred in the trading systems of Mirae Asset Securities and Samsung Securities, such as cancelled or corrected orders being executed anyway, and available balance showing as '0' despite funds being deposited.
The system failure was traced to NextTrade's order execution system, "NextSOR." SOR is a system that compares prices, fees, and execution possibilities between KRX and NXT for each order and automatically transmits customer orders to the exchange offering more favorable terms. Domestic securities firms use either NextSOR or KOSCOM's "K-SOR." Currently, NXT is investigating the cause.
Industry sources believe the failure resulted from NextTrade's IT overhaul ahead of the KRX aftermarket launch. An industry official stated, "The SOR application time was extended until 8 p.m., and confusion arose during the process of expanding or modifying related systems."
Securities firms prevented errors that could have occurred during KRX regular trading hours by sending new orders directly to KRX without routing them through SOR. However, pre-market trade execution details were not reflected in customer account statements until late afternoon on that day.
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