Submission of Quotations
  • Quotation is submitted via the order input program provided by the KRX.

    Function of the member system: Submission of new/correction/cancellation quotations, management of the changes in good faith deposits, trading details, emissions permits, provision of a bulletin board, notice on market operation, etc.

  • Only a limited quotation1) is allowed, through which trading can be executed at a price designated by investors or a better price.
    Fn. 1)
    Example) Buy order at KRW 10,000 Executed at KRW 10,000 or lower
    Sell order at KRW 10,000 Executed at KRW 10,000 or higher
  • Quotation quantity Limit: 5,000 emissions permits per quotation
    Quotation quantity limit is 5,000 tons per quotation. However, the limit is subject to change when the KRX deems it necessary for the purpose of market management. When the quotation quantity that a member wants to submit is greater than 5,000 tons, such a quantity can be split for quotation purposes. (There is no daily limit.)
Cancellation/correction of quotation
Any quotation that has been already submitted but not executed can be canalled or corrected.
(Cancellation or correction is not allowed after execution of trading.)
  • Cancellation : The entirety or part of the quotation that has been submitted but not executed can be cancelled.
  • Correction : The price for the entirety or part of the quotation that has been submitted but not executed can be changed.
Quotation price limit : ± 10% of the base price2)

In order to prevent members from making mistakes in placing orders and prevent prices from becoming highly volatile, the quotation price limit is capped at ±10%

Fn. 2)
Base price: The closing price of the previous day (However, when there is no closing price of the previous day, it will be the base price of the previous day. This may be determined differently when the KRX deems it necessary for the purpose of market management.)
Restriction on quotation submission
  • Restriction on cancellation/correction: Cancellation/correction is restricted for one minute before the closing of the single price auction in order to prevent the large quantity of phantom orders from distorting the expected execution price.
  • Restriction of quotation receipt: Receiving of quotations is restricted completely when trading has been suspended due to a system failure or an excessive amount of trading.
  • Restriction of short selling: In principle, short selling is restricted except for cases of selling the purchased quantity during the same day.