[FETV=성우창 기자] The Financial Supervisory Service (FSS) has announced that it will impose fines on nine domestic and foreign securities companies participating as stock market makers.
According to the financial investment industry on the 4th, the Financial Supervisory Service notified Mirae Asset Securities, Hanwha Investment & Securities, Shinhan Financial Investment, Korea Investment & Securities, Shinyoung Securities, and Bukuk Securities, etc. These securities firms are known to be under suspicion of influencing the market price as market makers.
The market maker system refers to a system that provides liquidity through securities companies so that low-liquidity stocks can be traded smoothly. Securities companies that have signed a contract with the Korea Exchange play a role in creating a market by submitting bids and bids to the stocks under the contract on a regular basis.
The FSS believes that the securities companies affected the market price by excessively correcting or canceling orders in this process. Accordingly, Mirae Asset Securities and Hanwha Investment & Securities were fined more than 8 billion won, and Shinhan Financial Investment, Korea Investment & Securities, and Shinyoung Securities were fined between 1 billion and 4 billion won.
However, the brokerage firms that received the notification said that they were only performing their roles legally through normal market creation, and there was no market disturbance. The imposition of this fine is a prior notice, and the level of sanctions will be determined through an explanation procedure in the future. The Financial Supervisory Service will hold a Capital Market Research Deliberation Committee to discuss the level of sanctions.
.
