The Korea Exchange announced that it triggered a 'Buy-Side Sidecar,' temporarily suspending the effectiveness of program buy orders on the Korea Composite Stock Price Index (KOSPI) market, as of 9:06:02 a.m. on the 15th.

This measure was taken due to a surge in the price of futures based on the KOSPI200 as the underlying asset. According to the disclosure, the current price of the futures stood at 1,365.85 points, up 66.00 points from the base price (1,299.85 points), representing an increase of 5.07%.

The Korea Exchange explained that as the futures price maintained an increase of more than 5% for over one minute, the effectiveness of KOSPI program buy orders would be suspended for the next five minutes.

The sidecar is a market stabilization mechanism designed to mitigate the impact of sharp fluctuations in the futures market on the spot market. This triggering was implemented pursuant to Article 16 of the Securities Market Business Regulations.