2010년 제12호

1. C o n te n ts 5 11 29 39 43 (SEC) 85 101 109

2. 3. (1.28) . 10. 1. 28. 2009 09 2 . 03 , . 2 . , (http://drc.krx.co.kr) > >/ .2010 (2.3) 10. 2. 3() 2010 .(1.31) 2 , 07 7 4. 2010 12 . , , , 2010 3 . . 2010 3 , , , 3 . (3.3) . TV (2.3) 10. 2. 3() . TV . (, 1 1, 2010 2) , , . . 2 1 , 8 5. 1 2010 (3.17) . 10. 3. 17() 63 11. 1 50 . 2010 . (SEC) (3.12) (SEC; Securities and Exchange Commission of Thailand) . . Prevej Ongartsittigul , , , 13 , . . , , , . .9 6. 2010 12 ELS 2010 1 (3.25) (3.30) 10. 3. 25. 2010 1 () 10. 3. 30() 21 117 ELS . . 130 ELS , ELS , ELS , ELS . . .10 7. 12009 (10. 1. 18) 209 (10. 1. 28) 3 () (10. 1. 28) 42009 (10. 1. 29) 52010 (10. 1. 29) 62010 (10. 2. 3) 72010 (10. 2. 16) 8 Tool (10. 2. 25) 9 (10. 3. 2) 10 12 (10. 3. 4) 11 (10. 3. 8) 12 HTS (10. 3. 11) 13 2010 (10. 3. 16) 14 SPAC (10. 3. 17) 15 (10. 3. 19) 16 () (10. 3. 23) 17 (10. 3. 24) 8. (10. 1 ~ 3) 1 : 2009 ( ) 2009 , . 09 () 333 (277) 20% ( : 09 240, 33.3% ) * 131(08 ) 146(08 ) 169(09 ) 164(09 ) * : 180(08) 240(09) < 09 >09 () 08 4237 5491+49(116.7%) 8061 55 116+36( 45.0%) 94 28265440( 42.6%) 61 432972 +11( 18.0%) 277 169164 333+56( 20.2%) < 09 >09 () 08 9756 47 103 +6( 6.2%) 172 101102 203+31( 18.0%) 8 12 1527+19(237.5%) 277 169164 333+56( 20.2%)< > : ELSELW ( ) : : (09. 2) ( ) 13 9. 2010 12 - , , ELW/ELS - ELW , ELW ELW - ELS - , - 3 - 3 , - (), (), , (08 26 09 49) - () - - ELW, ELS R&D - , - DB 14 10. - R&D 2 : 09 ( ) , , 2 , - 09 ( ) , , , - , . ( ) , - KRX (), (), () 1 28() 9:30 20 . 5( , , , , CS ) . 2 1 , . 15 11. 2010 12 3 : () ( ) 2010 1 4 (patent) (1.25, ). - 1 . - . - , . 4 : 2009 ( ) () . , , - , , 4 .* 16 12. 09 , - 09 2.6% , 24.0% , * 10.9% 9.02% + 1.88%p . . * : < > ( : , %) 2008(A)2009(B) 332,439341,174 2.6% 29,985 37,19324.0% 9.0210.901.88%p 09 - 1 71.5% , - 20% .< > ( : , %) 2008(A)2009(B)(1)21,369(71.3%)26,595(71.5%) 24.4%(2) 4,774(15.9%) 5,843(15.7%) 22.3% (3) 2,061(6.9%)2,476(6.7%) 20.1%(4)1,781(5.9%)2,279(6.1%) 27.9% 29,985(100%)37,193(100%) 24.0% 09 - 09 (08.9) 2,279 1,781 28% (09 393 )17 13. 2010 12 < > ( : ) ELW 20081,644 125121,781 20092,142 129 82,279 498 4-4 +498(28%) 09 - 27.1%, 78.0% .< >( : , %) 2008(A)2009(B) () () 231,984 26,117 248,743 7.2%33,209 27.1% ELW 58,816 3,28460,9083.5%2,944 -10.3% 41,63958431,523 -24.2% 1,04078.0% , .5 : 2010 2009. 4 (: ) 1. 29 2010 , . , , , 2010 .18 14. , , 2010 , () , , , , (SRI) .6 : 2010 ( ) 2 3, 2010 2 . , ( 1. ) , , 2010 3 , . .< 3 >1 ( 2. ) , 19 15. 2010 12 2009 , 2 , , DB R&D , , , IT , (HFT, High Frequency Trading) (SPAC), (VKOSPI), Mini 3 20 16. ( ) , , - , Working Group Working Group One-Stop 7 : 2010 ( ) (1) 2010 . , , (195) 2009 15 1,412 ( 3, 12) , . 2008 : (1) 430 (2) 60 21 17. 2010 12 8 : Tool ( ) Tool (10. 4. 1 ) . Tool , , - , - . Tool 5% Tool Tool , 09 (http://find.krx. co.kr) , .9 : ( ) * .* 1 < > , 1 1, 2 * 15, 56 22 18. : ()300 ()500 () : ()50 ()70 2 1 - 1 2010 (11. 1 ) 10 : 12 ( ) 12 ( 1)* .* 1 ( 8)* ( 7 / 6) . , . 08 12 35 29(83%) ( 1 ) . . . 23 19. 2010 12 3 12 () 12 09 12 11 : 1 ( ) , . : 200 - : ( , ), 2 - (16) (4) (21)24 20. ( 5%10% ) , 1 , 3 , 4 12 : HTS ( ) A A HTS 5 . () A HTS 4 (14:4650) ) 110 , ) 680 .- A (, ), . ) 110 25 21. 2010 12 ) 680 640 - 40 * .* 680 27 48 40 . , - , , - ,- A 5,000,000 . - ( ) ()... , .13 : 2010 ( ) 3 17 17:30 63 50 2010 , 26 22. , , . , 14 : SPAC ( ) SPAC() , .* SPAC .15 : ( ) 3 18, ( ) , ., , . . 27 23. 2010 12 16 : () () , ., . < > , < > , . : (http://www.cybercop.or.kr) : (http://ipc.krx.co.kr)17 : ( ) 2010. 3. 24(), 09 2 . () : - HTS () , 1 . , . (http://www.krx.co.kr) .28 24. 25. (1.28) . (2.11) , , , . , . , , . , . , , . ., 2 . , 2 / . , . 31 26. 2010 12 . . PEF (CP) (2.93.1) , , . 2010 (3.24) ( ) 2010 . 3 , (6 ) , . , , (2.24) (195) . 2. 24 4 5 (2.18) 17 . 2. 18 ( ) . , 6 32 27. . . , HTS , (3.11) A . A HTS 5 . (3.5) A HTS 4 , 110 680 . , A (, ), . . , 110 , 5% , 680 640 , 33 28. 2010 12 , 40 . sponsored access (FT, 1.12), SEC , . A SEC Mary Schapiro sponsored 5 access* . naked access , . , (3.24) nakedaccess 10. 3. 24(), 09 2 . M 1 * sponsored access : ATS . HTS , TABB Group 66 (buy side) , . 84% . 34 29. , SEC (Bloomberg, 1.23) . 60% SEC . 2 , . , NYSE Euronext Credit Suisse . . , SEC 07 10% Credit Suisse trigger( 10% NYSE 975 . ) uptick CME(Chicago Mercantile Exchange) . S&P 200,000 Nasdaq OMX, NYSE Euronext, , BATS Direct Edge LSE(London Stock Exchange) 3 . , NYSE Euronext trigger SEC . , ., (FT, 1.25), MiFID II (fn, 1.25) CESR(; Commission 35 30. 2010 12 of European Securities Regulation) . . , SEC (EC) MiFID (fn, 1.26) , MiFID II . SEC 1 (sub-penny pricing) . , NYSE Euronext, Nasdaq OMX, BATS Global Markets, Direct Edge 4 1/10 , SEC . . 01 Deutsche Boerse NYSE 1/8 1 , 40%(09 9 1 ) ,1 . 6 , 1.25% . CESR . . , Citigroup , . , , NYSE 36 31. Euronext Nasdaq OMX 0.1, BATs 0.5 . , Direct CME Edge () () . CFTC CME 1. 26 6.8% . . SEC, CFTC, CME (X-Handbook, 2.24) (X-Handbook, 1.27) SEC 2. 24 Rule 201 . (CFTC) CME (alternative uptick rule) CME Rule 201 CME , 10% . , .09. 10 ELX CMESEC Mary Schapiro CFTC , CME , . ELX CME . , CME Rule 201 . . - CME 10% - , CFTC .37 32. 2010 12 - SEC Regulation NMS . SEC - . , , (co-location), , (Federal Register) . 60 ., Direct Edge, (FT, 3.12) , , 4 Direct Edge 3. 12 SEC . . Direct Edge ISE, Knight Capital Group, Citadel Derivatives, Goldman Sachs, JP Morgan EDGA , EDGX . Direct Edge 2% 12% . , . sponsored( direct) access , Direct Edge , . SEC, Regulation NMS . (FT, 3.12)* SEC .38 33. 34. ( 2010-26, 2010.2.9) 1. , . 2. . ( 2) ( ) (15) , .. ( 2) .. ( 2, 3) , .. ( 2) , .41 35. (SEC) 36. (SEC) I. II. III. IV. ( SEC) . , SEC 10. 1. 14. , (routing), .SEC , , 2010 4 21 . . . < >45 37. 2010 12. . . 1975 , . . III. , ; (1) . (2) . , . . 2005 Regulation NMS, 1996 (Order Handling Rules) NASDAQ . 80% ( NYSE) . NASDAQ , NYSE 2006 10 . () (trade-through) 2005 Regulation NMS . 46 38. 20052009 NYSE . - NYSE NYSE 2005 1 79.1% 2009 8 25.1% . - NYSE (marketable) 2005 1 10.1 2009 10 0.7 . NYSE 2005 210 2009 110 590 ( 181%). NYSE 2005 29 2009 110 221 ( 662%). NYSE 2005 724 2009 1 10 268 . 47 39. 2010 12 NYSE . ( IV A. 1 .) , NYSE . , SEC . . . 1934 (flash orders) , (darkpool) - . , . , SEC . . . : , , , . SEC . . , SEC . . , SEC , . .48 40. . 11A, SEC . . :(1) (2) , (3) , , (4) (5) . , , , . SEC . SEC 11A . . . . . . , , . 49 41. 2010 12 SEC , , , . . , . SEC .. . . .A. . < 6> 2009 9 . (2009 9) 50 42. :NASDAQ 19.4%NYSE 14.7%NYSE Arca13.2%BATS 9.5%NASDAQ OMX BX3.3%Other3.7% 63.8%ECNs :2 Direct Edge9.8%3 1.0%ECN 10.8% 74.6%: 327.9%- : 200 17.5% 25.4% ECN , 74.6% . - 25.4% .1. 63.8% , 19.4% . SEC . . ()(low latency) . 1 51 43. 2010 12 (individual data feeds) . (co-location) . . , . , (reserve) . . , maker-taker . , , . Regulation NMS 610C 0.3 . . . (OTC) . - ( ) . .2. ECNs(Electronic Communication Networks) 5 ECN 10.8% . ECN Direct Edge ECN , ECN . ECN (ATS; alternative trading systems) . ECN , Regulation ATS 301 b 3 .52 44. ECN ( , maker-taker ) . 3. (Darkpool) (ATS; Alternative Trading System) ECN . . 32 2009 3 7.9% . ENC ATS Regulation ATS . Regulation ATS ATS SEC - FINRA , - . , ATS SEC . . , . 50,000 . 300 . ( ( ) ( () )) 90% . - . - ATS . 4. - (Internalization) () ATS . - ECN . . - . Regulation NMS 605 , - 200 . - 17.5% .53 45. 2010 12 - OTC . Regulation NMS 600 b 52 OTC . 600 b 9 10,000 200,000 . , - . , . OTC - - . OTC . - Regulation NMS 606 100% OTC . OTC . 606 0.1 .B. (Linkage) , . (fragmented) (dispersed) . , , . . , () (trade-through), .1. (Consolidated Market Data) 1975 . : (1) - ( ) (2) - ( ). 54 46. . . . (joint-industry plan) . , Regulation NMS 602 1% OTC FINRA , (SRO) . Regulation NMS 604 OTC 602 . , Regulation ATS 301 b 3 5% ATS 602 ., SEC . . , . , . , Regulation NMS 601 FINRA . . FINRA ATS(ECN ) - . FINRA 90 . FINRA 99.9% 30 , 30 ., Regulation NMS 603 b FINRA .55 47. 2010 12 FINRA . : (1) A NYSE (2) B NYSE NASDAQ (3) C NASDAQ . SEC ( ) . , 1 .< 1> 2008 A,B,C A B C $209,218,000$119,876,000$134,861,000 $463,955,000 6,078,000 3,066,0005,729,00014,873,000203,140,000116,810,000129,132,000 449,082,000: NASDAQ 47,845,00034,810,000 60,614,000 143,343,000 NYSE Arca37,080,00038,235,000 26,307,000 101,622,000 NYSE 68,391,000 0068,391,000 FINRA24,325,00016,458,000 20,772,00061,555,000 NSX 7,100,00011,575,00017,123,000 35,798,000 ISE15,260,000 1,477,0001,883,00018,620,000 NYSE Amex 1,000 9,760,000 14,000 9,775,000 BATS2,356,000 2,770,0001,538,000 6,664,000 CBOE80,0001,046,000433,000 1,559.000 CHX565,000574,000298,000 1,437,000 Phlx134,00030,000146,000310,000 BSE3,000 4,0007,000 , ECN . ECN (depth-of-book) . Regulation NMS 603a , ATS - . , ATS - 56 48. . , . ( ) : (1) A B - 5 , 10 ; (2) C - 5.892 , 6.680 . . 2. () (Trade-Through) Regulation NMS 611 () (Trade-Through) . () . , , FINRA (automated) . 611 . 600 b 78 , ATS(ECN ), OTC ( ) - . 611 a 1 () . () (1) (marketable) , . (2) . 611 . 611 ( ) . 611 , ITS(Intermarket Trading System; 57 49. 2010 12 ) , . SEC Regulation NMS , . .3. (routing) . . . (heat maps) . , . . (resting) . . Regulation NMS - . Regulation NMS 610 a . 610 c . 611d 58 50. (lock) (cross) , . 6a2 - . , ATS . Regulation ATS (1) 301b3 (2) 301b5 ATS .ATS 2 5% . ATS 5% . ATS 2 , 5% . 17A . . . . . . , Regulation NMS 605 606 . 605 . 606 . SEC 2000 . 605 606 .59 51. 2010 12IV. SEC - , . SEC . . . . SEC ? . ? ? ? SEC ?A. . , . SEC . , SEC . . , SEC . .60 52. 1. SEC . . . . . . . . . . , . SEC . SEC . ? SEC ? ? ? . SEC (, ) . 61 53. 2010 12 ? - . ? ? , ? ? ? SEC . , SEC (, , , ) . . SEC . a. ? , SEC (10,000 ) . - - . , ( ) ( ) . . , ( ). , . SEC , . . 62 54. SEC (5 60 , 1 1 1 4 ) . . , , . 605 5 . SEC . , , . SEC . ? ? ? , . (opening price) . ? , ? SEC (10,000 ) . . . 63 55. 2010 12 . . SEC . SEC ? . , ? ? , SEC . , , 10 5 ? ? 2009 1 ? ? ? SEC . , . , SEC , . SEC 2008 . . 5 ? CBOE (VIX) 2008 . VIX 30 S&P500 . VIX ? VIX , VIX ? VIX 30 , VIX ?64 56. b. SEC . . , ? , ? ? , SEC ? ? 605, 606 SEC . , - ? , ? , - ? SEC 2000 605 606 . , ? 605 606 ? SEC 606 , OTC . 605 606 ? ? ? 605 ( ) 10 1 (to the tenth of a second) . 1 ?65 57. 2010 12 , 0 - 9. ? , 605 . ? 605 , . ? 605 . , 605 ? , 605 (1 ) ? , 605 606 . . ( ) ? , ? (Intermarket Sweep Orders; ISO) . 605 ISO . ISO () ISO / ? , SEC ? , ? ? , SEC ?2. SEC SEC . , ? , ? 66 58. B. (high frequency trading; HFT). . (proprietary) ( - FINRA , ), - , ( ) , . (1) , (2) (3) (4) (5) ( ) . 50% . . SEC SEC HFT . SEC . SEC . . . , , . , , . , . SEC . 67 59. 2010 121. . ? ? ( ) ? ? ? ? ? ? SEC ? ? , , ? , ? pinging" ( , ECN -- ) ? . ? (affirmative) (negative) ? ( ) ? ? ? , SEC . , - , , (structural) (directional) . - (order anticipation) (ignition) 68 60. . .a. ( ) . , , . 90% . 1 . , . (perennial) . OTC . , ( ). , ATS . OTC . . , . , . OTC , . . 69 61. 2010 12 SEC . ? (top-tier) , , ? , ? ? , ? ? ? ECN . SEC . ? ? ? ? (inverted pricing) ? ? ? ? b. (arbitrage) . , ETF ETF () () . . 70 62. . ( ) . SEC . ? , ETF (ETF ) ETF ? , ? ? ? ?c. (structural) . . , . , . ? ? ?d. (directional) . . . .SEC - .71 63. 2010 12 1 () ( , ) () . , ()() () () . () . . , , . SEC . () . () () (ping) . . , () , () , . . , . () , () () . . 2003 : (parasite) . . 72 64. . . . , , ? ?SEC . ( )? ? ? ? ? ? . ( ) . , ( ) . . , . . . SEC . . , ( ), .73 65. 2010 12 SEC . ? ? ( - - ) ?2. . a. (Co-location) ( , , ) . 1 . . . 3 . .SEC . SEC . . , SEC . , ? 74 66. ? , ? ? . ? , ? , ? , ? ? , ? , SEC ATS ? , SEC ? (batch) ? ? SEC . SEC . ? ? , SEC SEC ? SEC ? , , ? SEC 75 67. 2010 12 ? ( ) ? , ? , SEC ( ) . . ? ? ? , ? , ? ? b. (Data Feeds) ECN . , ATS . ECN () . 2005 Regulation NMS , SEC , ATS - , (plan) . , , ECN 76 68. . , . , 10 . . SEC . ? ? ? , ? , ? ? ? SEC ? (Odd-Lot) ( 100 1) . ( 4%) . ? SEC ? ? ? ? ? ? ? 77 69. 2010 123. , SEC . , ? , . - , . SEC . SEC 2008 . , . 2008 , ? SEC ? - FINRA ? , ?C. , . . SEC . (IOI; Indications of Interest) , ATS , ATS . .78 70. . . , , ( , ), . , , . , . . . . ATS. - ECN . , OTC . OTC 611 () (trade-through) .SEC . , .1. OTC . SEC . , OTC ? 79 71. 2010 12 ? , ? ? . . OTC ? OTC ? OTC ? OTC ( OTC ? , ? , ? ? . ? ? ? ( ) ? . ( ) ? ? ? ?, ECN - ? 80 72. ? - , ECN ?2. SEC . ? , ? , OTC . ? , , ? ? ECN , - ? , SEC ? , 70~80% . , (underlying) ? , . , OTC ? , ? ? ? 81 73. 2010 12 (Trade-At Rule) SEC ? SEC (trade-at rule) ? , (1) ( ( 1) ), (2) ISO .SEC (trade-at rule) . ? ?() (trade-through) , (trade-at rule) ? (, ECN, OTC ) ? ? SEC , ? SEC (trade-at) Regulation NMS 610 C 0.3 ? (depth-of-book) 611 () . 611 (depth-of-book) () ? ? , ? 82 74. (Low-Priced) - . Regulation NMS 612 1 . 20 1 5 2 10 50 . OTC ? ? SEC 612 ?3. Regulation ATS - . , - . ATS 5% , . - . - . SEC . Regulation ATS 5% ? ? ATS Regulation ATS ATS , ATS . ? Regulation ATS ?83 75. 2010 12 - ATS . - ? ? ? , ? , ATS ECN ATS ? ATS ? FINRA ATS , ATS FINRA . FINRA ATS ? , ATS Regulation ATS ?D. SEC . . . SEC , Elizabeth M. Murphy 2010 1 1484 76. 77. 10 1/4 , . . (, %) 09 4/4 10 1/4 10 303 99 67.399 205 29744.9297 223 16924.2 169 ( ) 731 56522.7 565 ()87 78. 2010 1210 1/4 .10 1/4 , 12 . (, %) 09 4/4 10 1/4 10 2143 52.2 43 4378 81.4 78 6412189.1 121 8 (0)28 (12)250 (-)28 (12) 17 (5) 43 (22)152.9 (340.0)43 (22) 25 (5)71 (34)184 (580.0)71 (34) 89 (5)192 (34)103 (115.7)192 (34) * ( ) ()88 79. 10 1/4 837, 28, 3 , 24.9% .- 09 1/4 ,- .* ( : , %) 09 4/4 10 1/4 10 247139 43.7 139 901698 22.5 698 1,148837 27.1 837 1 7600.0 7 10 21 110.021 1128154.52803 -3 00 -0 03 -302 -2 00 -0 02 -2 1,159870 24.9 870 89 80. 2010 12 10 1/4 77, 09 4/4 122 45(36.9%) , . ( : , %) 09 4/410 1/4 10 43 2737.227 68 4139.741 11 9 18.29( ) 1227736.977( : ) 90 81. 10 1/4 77 37(48.1%) , 40(51.9%) . ( : , %) 09 4/410 1/410 12277(A) 4368 112741 9 2741 977(43.5)(36.9)8237 (B) 2945 8920 89 20837(82.2)(54.9) 40 40 1423 3 1821 1 1821 140(0.0)(0.0) 67.4 66.2 72.767.2 33.3 48.8 88.948.1 33.3 48.8 88.9 48.1(B/A100) * ( ) ( : %)91 82. 2010 12 10 1/4 () 37 21(56.8%), 11(30.0%) 5(13.5%) . ( : , %) 09 4/4 10 1/4 10 3921 1417 8 310 8 3 10 821 (160.0) (46.2) 31 119 22 0 470 4 7011 (63.2) (64.5) 12566 0 230 2 30 5 (9.1)(58.3)82 37 2945 8 920 8 9 20 837(82.2) (54.9)* ( ) ** 2 -- ( : ) 92 83. 10 1/4 12( 5, 7) 11 .1/4 12 10( 4, 6). ( : , %) 09 4/4 10 1/410 75(28.5)5 4 7(75.0)7 111212 * , ( ) * 09 4/4 ( : )93 84. 2010 12 10 1/4 5 6. ( : , ) 09 4/4 10 1/4 10 --- -1 1 -2 2 , 12 2 15 5 -1 1 -5 5 -6 6 * ( : , ) 94 85. 10 1/4 2, 150 , 4, 700 . 09 4/410 1/4 10 200(2)150(2)150(2) 100(1)700(4) 700(4) 200(1)- - 500(4)850(6) 850(6) (: )95 86. 2010 12 09 4/4 70,688 22.2% . - : 51,738( 10,975) - ELW : 11,053( 8,380) - : 7,897( 786) 8,761 9.2% , (/) 12.4% 1.8%p . (: , %) 1/4 2/4 3/44/409 67,68366,60962,713 51,738248,743 7,6149,5888,3217,686 33,20911.2514.3913.2714.8613.35 18,471 11,951 19,433 11,05360,908 ELW520654909834 2,917 2.825.474.68 7.554.79 7,9886,9558,6837,89731,523 108261422241 1,032 1.353.754.86 3.053.27 94,14285,51590,829 70,688341,174 8,242 10,5039,6528,76137,158 8.7512.2810.6312.3910.9096 87. (: ) 09 4/4 7,649 9.1% , 564 8.4% , 548 11.9% . (: )97 88. 2010 12 09 4/4 , 71 32 1,272 ,(4,041) 68.5%(2,769) . 09 4/4 1,272 (104, 8.2%) , HTS 888 69.8% , 145(11.4%), 60(4.7%), 35(2.8%), 21(1.7%), 19(1.5%) . ( : , %) 1/4 2/4 3/44/4 09 35304.7 295.1 380.92.8 132 2.0(7.9) 21375.9 386.7 44 1.1 1.7 140 2.1 (52.3) 60 386.0 244.2 320.84.7 154 2.4 (87.5)19254.0 223.9 220.51.588 1.4 (13.6)888467.3 6811.93,579 88.669.8 4,581 70.3 (75.2)145 354 56.0 26646.62085.111.4 973 14.9 (30.3)104 102 16.1 12421.71182.9 8.2 448 6.9 (11.9) 1,272 632 100 571 100 4,041 100 1006,516 100 (68.5)* ( ) 98 89. 10 1/4 , , , . 1/4 60 (39.2%), , 89.0%, 42.9% , , 62.5%, 21.9% . ( : , %)09 4/4 10 1/4 () 3220.9 3941.9 7(21.9) 8 5.2 1314.0 5(62.5) 7 4.64 4.33(42.9)8253.69 9.773(89.0)24 15.72830.1 4(16.7)153 100.093100.0 60(39.2)* ( ) / ( : %) 99 90. 91. : A B , . . . , , , ( ) , , , , , . A , , C , . C .103 92. 2010 12 : () A B HTS ( 4 1 5 3) , ( 61 3) . . (4) . , , . A , (2) , .104 93. : A B 08. 11. 7. 09:55 KOSPI200 5 C , A 11. 10. 1, 11. 11. 9 , 11. 13. 2 .08. 11. 13. B C C B C .C B C ., C B , A A . B 11. 7. 11. 13. C , B , A B B C . C C 40% . C 3,300 40% 2,000 A C . 105 94. 2010 12 2 - 2009. 12. 10. 20086953 - . 05. 9 B P A A P (RFID Tag) . B 05. 9 C , C B P , B . B 05. 9. 22 3 9,900 C , 05. 9. 23 9. 27 C B 3 9,900 1,700 P . 05. 10. 5 P RFID Tag , 05. 10. 13 P 675,750,450 4,553,645 671,196,805 .106 95. . 1882 1 1 , 1 1 2 . 1 ,2 1 1 , , 2 1 ( 2002.1.25. 200090 ). , 18821 1 1 2 2 1 . 2 1 B P , B C . B P , 60% B , C B ,1 B 1 , C B . 107 96. 2010 12 . 1 2 2 1 1 , , . , 1 2 , 1 , 2 1 . 1 2 2 , () , 2 1 . 2 , 2 1 2 , 2 .108 97. 98. 5 . 2 1 . . . , . . 09. 2 ,, , , 5 . , MMF , , . , . 111 99. . . ( 02-3774-9027) . ( 02-3774-9283~9288) , Fax . . : www.krx.co.kr (Fax : 02-3774-9889) (2010 12) 2010 4 2010 4 ()(02-723-1001)

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2010년 제12호