Nextrade, South Korea's new Alternative Trading System (ATS), has captured nearly 30% of the country's stock trading volume shortly after its launch, according to Bloomberg. The platform's trading volume for certain stocks, like Doosan Energy, even surpasses that of the Korea Exchange (KRX). Nextrade's appeal lies in its 12-hour trading window and lower fees, attracting a significant retail investor base, which constitutes 86% of its trading volume. Regulatory caps in South Korea limit single-stock and total trading volumes to 30% and 15%, respectively. While regulators have temporarily lifted the single-stock cap, the total volume cap remains in place, prompting Nextrade to suspend trading in nearly 150 stocks to comply. This situation has led KRX to consider extending its trading hours to remain competitive.