New market watch system seeks out unfair trading in market before they happen using AI-based XGboost and Big Data
A Key executives, led by President Chung Ji-won, of the Korea Exchange, applaud at a ceremony on May 23 to launch the new market watch system, EXIGHT, designed to seek out and prevent unfair trade practices at the Korea Exchange.
KRX launched EXIGHT, an AI-based next-generation stock market watch system on May 3 this year, to watch for new unfair transactions more closely. The Korea Exchange kicked off work to build the new market watch system last January and completed it after 18 months of hard work, including test-runs, to ensure the new market watch system works.
The existing system will continuously run for two months alongside the new system to make sure that everything runs as expected.
The market watch committee celebrated the launch of the new market watch system in a ceremony on May 3 at the new building of KRX in Seoul, with the new logo for the new system unveiled, “KRX EXIGHT.”
EX stands for “KRX” and XIGHT for “sight” to make up the core of the next-generation market monitoring system.
The new system integrates monitoring of spot goods and derivatives transactions under the old system under its EXURE based platform, which also includes an integrated system relying on AI and Big Data to prevent unfair trades from happening before they take place.
The new system using XGboost is able to determine weather unfair trades are suspected of occurring in the process, seek out new kinds of unfair trade.
Using Big Data, the new market watch system is also able to seek out the accounts related to the accounts responsible for unfair trades, opening a new explosive change in the analysis of unfair trades. Through the use of BI (business intelligence), the new system can analyze the accounts suspected to commit unfair trades able to cope with unfair trades speedily and correctly. Diverse ways for data analysis helped the new system to maximize its operation.
The market watch committee has been able to cut the time from uncovering the unfair trades and to informing them through EXIGHT, strengthening its ability to uncover the unfair trade practices.
The committee has been able to also make the new system the best solution for dealing with unfair trades in the market by uncovering them early and fast with correct analyses so that the measures against them can be taken speedily. The committee will make the market fair and trust worthy one using the next-generation market watch system, EXIGHT, attracting the investors doing its best.
KRX said on Sept. 12 that the stock transactions from Sept. 1-11 amounted to 4.213,2 trillion won on daily average, which was a little higher than the daily average trade in the preceding month thanks to the rise in the prices of bio shares, but they came to around half of what was traded in the beginning of the year which recorded 8.668 trillion won in daily average transactions in January.
President Chung Ji-won, from the time he took office, has stressed that the Kosdaq market should be spurred ahead of the Kospi market, and the KRX took a number of measures to speed up the growth of the Kosdaq since then.
The KRX300 Index mixing the general securities with those listed o
n the Kosdaq market was launched in February. But the new index has been having trouble settling down with the seven of the ETFs market value totaling only 757.7 billion won, a mere 4.9 percent of the 62 ETFs on Kospi 200 Index whose market value came to 15.224,2 trillion won.
A view of the Korea Exchange in Busan Metropolitan City. (Photos: KRX)