The nation's first alternative stock trading system, Nextrade(NXT), is set to launch March 4, enhancing efficiency and convenience for investors.

The Financial Supervisory Service(FSS), which held an information session on Wednesday, said the NXT will run for 12 hours from 8 a.m. to 8 p.m., longer than trading hours of between 9 a.m. and 3:30 p.m. on the main bourse operated by the Korea Exchange(KRX).

Securities firms will be required to handle investor orders under the best trading conditions between the two trading systems in consideration of the price and transaction cost.

Short-selling will be allowed, except for during pre-market and after-market trading hours.

A total of 32 brokerages will gradually join the NXT, and some 800 companies will be listed on the secondary stock exchange.