(Bloomberg) -- South Korea will simulate extended trading hours for the won during its final trial series before the official start of longer sessions next month.

Trading will continue past the current 3:30 p.m. official closing time for the onshore won and last through 2 a.m. on Thursday, Korea’s FX Committee said in a statement emailed to local banks and obtained by Bloomberg. That will be the first time trading goes past 3:30 p.m. without a break.

Participants on Thursday will be able to freely trade the onshore won spot along with dollar-won swaps during that period as they would during official trading hours, the Committee said. On Friday, test trading will run from 6 p.m. to 2 a.m.

Korea’s onshore currency will continue to open at 9 a.m., but the closing time will extend to 2 a.m. on July 1 as the nation bolsters efforts to improve access for foreign investors in a push to get its stocks and bonds included on global indexes.

Korea has conducted a handful of pilot tests this year to make sure there are no issues with trading when hours are extended. The trials on Thursday and Friday will be the last. 

In May, Korea said 27 institutions — 15 local FX banks, six brokerages and six registered foreign institutions — were able to normally trade, pay and carry out the accounting linked to the exchange of dollar-won spot and swaps.

 

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