South Korea's stock exchange said Friday it has received an international award for its innovative trading system exported to Azerbaijan.

The Korea Exchange installed the new information and trading system on the Baku Stock Exchange last year.

It was selected as the 2016 Best Technology Innovation by an Exchange in a Singapore ceremony hosted Thursday by the Futures and Options World, a global capital data service provider, according to the KRX.

It added the award demonstrates the superiority of the system co-developed by Koscom, an IT solution firm in Seoul, for export purposes.

The bourse won the same award in 2015 for a settlement system exported to the Stock Exchange of Thailand.

The KRX said it plans to "continue to expand its overseas business on the basis of the effective market infrastructure and related services." (Yonhap)