In April, Instinet added Korea to the growing list of markets where it operates alternative trading systems.
KoreaCross, as the system is known, will operate as a daily blackbox pre-market crossing network, matching orders at the volume-weighted average price. Instinet launched the platform with the support of Samsung Securities, a leading Korean investment bank, which is acting as a local broker sponsor, providing clearing and settlement services as well as order flow.
KoreaCross is Instinet’s ninth alternative trading system worldwide and the third in Asia after JapanCross, a crossing network for Japanese equities and CBX Japan, a real-time matching engine.
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