KOSPI Buy Sidecar Triggered as Sharp Rally Halts Program Buy Orders

The KOSPI continued to surge early on the 11th, prompting a temporary suspension of program buy orders, known as a buy sidecar, in the main stock market. According to Korea Exchange, the measure was activated at around 9:29:32 a.m. after the KOSPI 200 futures index rose sharply. A sidecar is a system designed to ease the impact of futures price swings on program trading in the cash market by temporarily suspending the effectiveness of program buy quotes. The step came as part of market volatility management amid the KOSPI’s rapid rise, and investors need to monitor movements in both the spot and futures markets. Source: mk.co.kr