Core Viewpoint - The rapid rise of Nextrade, an alternative stock trading platform in South Korea, highlights a significant increase in demand for "around-the-clock" trading, capturing nearly one-third of the country's daily trading volume in just over six months [2][3]. Group 1: Nextrade's Performance - Nextrade's trading volume share in the Korean stock market reached nearly 30% last month, up from less than 4% when it launched in March [3]. - The platform's success has led to some stocks, like Doosan Energy, trading more on Nextrade than on the traditional Korean Exchange, which has been operational for 70 years [3]. - The platform was established by 34 securities, financial, and IT institutions and offers 12 hours of continuous trading, divided into pre-market, regular trading, and post-market sessions [4]. Group 2: Investor Behavior - Retail investors, referred to as "ants" in South Korea, have shown a strong preference for aggressive risk-taking, often investing in U.S. leveraged ETFs and cryptocurrencies [5]. - Currently, retail investors account for 86% of Nextrade's trading volume, while foreign investors have increased their participation to 11% from nearly zero [5]. - The platform's lower trading fees, which are 20%-40% less than those of the Korean Exchange, and its flexible trading options are key attractions for investors [5][6]. Group 3: Regulatory Changes - The success of Nextrade has prompted urgent revisions to regulatory limits, with the Korean Financial Services Commission temporarily lifting the individual stock trading volume cap after it was exceeded by over 500 stocks [7]. - Despite the temporary removal of the individual stock cap, the overall trading volume limit of 15% remains in place, leading Nextrade to suspend trading for nearly 150 stocks in August and September [8]. - The future success of Nextrade will depend on its ability to ensure technical stability and attract institutional funds, as the platform is still in its early operational phase [8].