Transactions can
be executed at any securities company from
9:00 am to 3:00 pm, Monday to Friday with
no lunch break, except on Saturdays, Public
Holidays, Labour Day and 3 days at the end
of the year.
Trading
Method
All transactions are transmitted directly
to the KSDA. and executed
according to the principle of matching price.
The Free Board employs "locked-in
or crossed quotation trading" where deals
are closed only when the prices of the bidding
and asking parties match each other.
If the prices are not matched, then the trade
can not take place.
When the quotes do not match, investors will
revise their quotes by examining the quoted
prices to match the quotes of other parties.
If two buying quotes compete for one selling
quote, the quote submitted earlier will prevail
on a first come, first served basis.
Unlike the Stock Market or KOSDAQ, the Free Board does
not utilize a simultaneous quote system.
Placing
Orders
To buy or sell stocks listed on Free Board,
investors must place an order in which the
name of the shares, quantity and price are
quoted via a securities firm.
Securities company executes the transaction
through Free Board by telephone or Internet.
Daily
Price Fluctuation Limit
Free Board sets a limit on the range that the prices
of individual stocks can change during a day. As of August 2005, it was set
at 30 percent. In other words, the price of each stock could neither fall nor rise by more
than 30 percent from the previous day's Trading Volume Weighted Average Stock Price.
Trading
Base Price
Trading Base Price is the Trading Volums Weighted Average Stock Price. (Nominal quotes are not recognized).
If an individual stock is not traded during
the day, its Trading Base Price of the previous
day is used.
Settlement
Approval Procedure
Settlement Approval
is made through the KSD within 3 business
days (excluding Saturdays and Public Holidays)
from the trade approval.
Trading
Hours 
All transactions are transmitted directly
to the KSDA. and executed
according to the principle of matching price.
