Mirae Asset, Samsung Securities hit by SOR failures as KRX launches after-market trading

  • Mirae Asset and Samsung Securities experienced SOR failures during KRX after-market launch preparations.
  • Mirae rerouted SOR orders to KRX at 8:50 a.m.; Samsung switched at about 9:30 a.m.
  • Investors reported delayed confirmations, failed cancellations, incorrect balances and unexpected executions.

Mirae Asset Securities and Samsung Securities suffered smart order routing failures on March 14 as the Korea Exchange launched its real-time after-market session for the first time. Mirae users reported delayed confirmations, failed cancellations and new orders, executions at pre-cancellation prices, incorrect available balances and stale orders being filled. Mirae began routing SOR orders to KRX at 8:50 a.m., restoring normal processing before the 9:00 a.m. regular session, although some functions remained under remediation. Samsung experienced a roughly 10-minute SOR failure around 9:30 a.m. and switched order processing to KRX. The disruptions occurred as brokerages revised SOR systems, order-validity rules and handling procedures for the expanded KRX and NXT trading schedule. The scale of investor losses and whether compensation will be paid remain unresolved.

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