Daily Price Limits

The KRX limits the daily price fluctuation up to ±30% of base price in order to secure fair and orderly trading by way of fair price discovery of listed securities and preventing investors' damage from excessive price fluctuations. However, the daily price limits are not applied to those issues under liquidation trading for delisting scheduled, ELWs, subscription rights and subscription warrants.


In addition, leveraged ETFs which are geared to the price changes in the underlying assets by a certain multiple (including negative multiple), the daily price limits are expanded applying the multiple.


Ex) 2X leverage ETF's price limit: 60%

Historical Changes in Daily Price Limits
Historical Changes in Daily Price Limits
Period Daily Price Limit(%)
Before Apr. '1995 Fixed amount: 17 phases by price levels On average : 4.6%(2.2~6.7%)
Apr. 1, '1995 ~ Fixed rates 6%
Nov. 24, '1996 ~ 8%
Mar. 2, '1998 ~ 12%
Dec. 7, '1998 ~ 15%
June 15, '2015 ~ 30%
Calculation of Upper/Lower Price Limit (example)
Calculation Method
  • 1st calculation: multiply base price with 0.3
  • 2nd calculation: round off the amount less than the tick size at the base price level
  • 3rd calculation: add the result of 2nd calculation to the base price and round off the amount less than the tick size at the price level
Example: Where the base price is KRW 9,980;
  • 1st calculation: KRW 9,980 x 0.3 = KRW 2,994
  • 2nd calculation: KRW 2,990 (round off KRW 4, which is less than 10 Won, the tick size at the price level of KRW 9,980; 1st round down)
  • 3rd calculation:
    • Upper limit : KRW 12,950
    • Add-up result : KRW 9,980 + KRW 2,990 = KRW 12,970
    • Round off KRW 20, which less than the tick size of KRW 50 at the price level of KRW 12,970 (2nd round off)
    • Lower limit : KRW 6,990 (KRW 9,980 - KRW 2,990)