Korea Exchange will introduce its After Market session on Sept. 14, allowing trading in eligible KOSPI and KOSDAQ common stocks and depositary receipts from 4 p.m. to 8 p.m. The real-time market will replace the current 4 p.m. to 6 p.m. after-hours call auction, executing matched buy and sell orders in submission sequence. Thirty-eight securities firms representing 95.2% of South Korean stock-market trading volume will participate. ETFs and ETNs will initially be excluded amid volatility concerns, while investment-warning, investment-danger, administrated, highly illiquid and certain inactive stocks will also be barred. Limit orders, best-priority limit orders and best-price limit orders will be accepted, while market, midpoint and stop-limit orders will not. The regular-session 30% daily price band, volatility interruption measures, short-selling rules and T+2 settlement will apply. Korea Exchange plans to assess market stability and liquidity before considering whether to add ETFs and ETNs.