Overview Primary Market Stock Market of KRX Free Board Home > Investment Guide > Stock > OTC BB > Overview Overview Market System Listing Disclourse  Overview Established in 2000, the Free Board was relaunched in July 2005 for future growth through innovations in its systems and institutions. The Free Board is a new market for companies listed, neither on the Stock Market Division nor on the KOSDAQ Market Division of KRX. These companies are listed by the KSDA and the shares are traded through the Quote Dissemination System of the KSDA. The Free Board provides liquidity to stocks issued by companies unable to satisfy the qualifications required for listing stocks on the the Stock Market or KOSDAQ, or companies whose stocks have been delisted from the Stock Market or KOSDAQ. The Free Board provides these companies with the opportunity to raise funds through direct capital financing. Category Free Board KOSDAQ Market Establishment Date March 2000 July 1996 Trading Hours 9:00am ~ 3:00pm Opening Call Trading Session 8:00am ~ 9:00am Regular Trading Session 9:00am ~ 3:00pm After-Hours Trading(3:10pm~4:00pm) Trading Method Negotiated Trading (Volume Split trading allowed) Competitive auction trading. Simultaneous bid/offer Trading. Price Fluctuation Limit ±30% ±15% Settlement Period T+2 T+2 Guarantee Deposit Buy: cash 100% Sell: Share concerned 100% No Rule Day Trading Available Available Item Traded Free Board-designated stocks KOSDAQ - listed stocks Capital Gains Tax Large Companies: 20% Small & Medium sized enterprises: 10% Venture Businesses(exempted) Exempted Securities Transaction Tax 0.5% 0.3% excluding agriculture & fishery special excise tax Settlement Institution KSD KSD Standard Price Closing price of the previous day's weighted average stock price Closing Price of the previous day