Newsletter

Inconvenience of ‘again delay’ of orders from securities companies on the LG Ensol listing date (comprehensive)

Some investors talk about ‘temporary failure’ of the home trading system

“Some brokerage firms do not accept demand for line extension”

(Seoul = Yonhap News) Reporter Seon-hee Yoon, Sae-rom Chae, Won-hee Park and Mi-ryeong Park = Recently, as the IPO market became popular, customer complaints were raised due to delays in orders or problems with access on the first day of listing.

In the industry, the need for improvement is being raised as the Korea Exchange has requested an extension of the line, but the need for improvement is being raised as it is pointed out that such a problem has occurred as securities companies postponed it one after another due to problems such as cost.

Individual investors who invested in public offering stock complained that they had a hard time with temporary failure of the Home Trading System (HTS) and Mobile Trading System (MTS) while waiting to sell LG Energy Solution, which entered the stock market with the second largest market capitalization on the 27th. did.

Hi Investment & Securities, which received a general subscription for LG Energy Solution, experienced a connection error for 40 minutes immediately after opening on the same day.

An official from Hi Investment & Securities explained, “There was a connection error for 40 minutes after opening, and it was resolved in 50 minutes.”

General subscription for LG Energy Solution is KB Securities, Shinhan Financial Investment, Daishin Securities[003540], Mirae Asset Securities[006800], Hana Financial Investment, Shinyoung Securities[001720], Hi Investment & Securities, etc.

These securities companies emphasized that there was a delay in speed due to temporary orders, but there were no computer problems.

KB Securities, the organizer of this subscription, said that it was possible to accommodate up to 1.8 million people at a time with the expansion of the server.

An official from KB Securities explained, “There was a delay of up to one minute in the process of notifying the customer of the fact that the order was concluded due to a slight delay in receiving the data that the order was concluded from the exchange.”

Shinhan Investment Corp. explained, “There was no computer problem in the company.” “Buy and sell orders were made normally, and there was a delay in speed, but there was no server problem at all.”

Daishin Securities also said that there were some investor inquiries, but it was confirmed that there were no problems with the signing.

Shinyoung Securities also said, “There was a customer inquiry about the speed delay, but when I checked internally, there was no connection failure or delay.”

“It’s not just the company’s problem,” he said.

An official from the Korea Exchange said, “Trades are concluded at the same quote price at 9 am, but on days with a lot of trading, it is the same situation that is delayed by a few seconds.”

“Each securities company has a communication line that receives market price and trading data, but it differs from one securities company to another,” he said.

LG Energy Solution Co., Ltd. listed on the stock market

(Seoul = Yonhap News) Participants are taking a commemorative photo at the ‘LG Energy Solution Co., Ltd. New Listing Ceremony’ held in the lobby of the Seoul office building of the Korea Exchange on the 27th. From left: Song Young-hoon, Deputy Head of the Korea Exchange Securities Market, Ahn Sang-hwan, Chairman of the Korea IR Council, Sang-wook Cho, CEO of Morgan Stanley Seoul Branch, Jae-joon Lim, Head of Korea Exchange Stock Market, Byeong-doo Son, Chairman of Korea Exchange, Young-su Kwon, CEO of LG Energy Solutions, Chang-sil Lee LG Energy Solution CFO, KB Securities CEO Kim Seong-hyun, and Listed Companies Association Lee Ki-heon full-time vice chairman. 2022.1.27 photo@yna.co.kr

This is not the first case of complaining about system inconvenience on the first day of a new listing.

On November 3, last year, on the day of Kakao Pay’s listing, customers of subscription securities companies complained of inconvenience.

At the time, Samsung Securities[016360]also posted a notice to HTS and MTS saying, “We expect many customers to access the listing on the listing day.”

Korea Investment & Securities also sent a text message to customers at the time, notifying that “If there are excessive requests for replacement by other companies on the Kakao Pay listing date due to a surge in subscriptions for public offerings, it may be delayed.”

An official from the industry said, “The public offering market is gaining unprecedented popularity and investors are flocking in, but securities companies have limited capabilities, causing inconvenience to customers.

indigo@yna.co.kr