Officials work at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
The total number of buy- and sell-side sidecars triggered on the main bourse this year has reached its highest level since the 2008 global financial crisis, reflecting growing market volatility, the bourse operator said Wednesday.
A total of 20 sidecars have been issued on the main bourse so far this year, six fewer than the 26 recorded in all of 2008, when the global financial crisis jolted the market, according to the Korea Exchange (KRX).
A sidecar is triggered when the KOSPI 200 Futures Index moves 5 percent or more for at least one minute, suspending program trading for five minutes.
The KRX has issued 11 buy-side sidecars and nine sell-side sidecars.
