Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

Korea FSC: Major Changes in Foreign Investor Registration & IPO Pricing

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Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>KRX (and Korea FSS) no longer collects foreign investors' entire trade records in real time, as foreign investors are no longer traced based on their unique registration numbers.</li>
<li>Foreign investors are likely to engage in more aggressive short-term trading. We need to be prepared for significant price volatility, mainly for small and mid-cap stocks.</li>
<li>System changes for trade history management changes will be completed within the third quarter. So, we will likely witness new trading patterns from the fourth quarter of this year.</li>
</ul>


KRX (and Korea FSS) no longer collects foreign investors' entire trade records in real time, as foreign investors are no longer traced based on their unique registration numbers.
Foreign investors are likely to engage in more aggressive short-term trading. We need to be prepared for significant price volatility, mainly for small and mid-cap stocks.
System changes for trade history management changes will be completed within the third quarter. So, we will likely witness new trading patterns from the fourth quarter of this year.


Korea No Longer Collects Foreigners' Real-Time Trade Data & Potential Increase in Spoofing Attempts

KOSDAQ 150 Index

Korea No Longer Collects Foreigners' Real-Time Trade Data & Potential Increase in Spoofing Attempts