KOSDAQ (Korean Securities Dealers Automated Quotations, Korean: 코스닥) is a trading board of Korea Exchange (KRX) in South Korea established in 1996. Initially set up by Korea Financial Investment Association as an independent stock market from the Korean Stock Exchange, it was benchmarked from the American counterpart, NASDAQ.KOSDAQ is an electronic stock market, just like NASDAQ. The open hours for the market are 09:00AM to 03:00PM KST.It is now operated as SME Market Division of KRX.