Tel Aviv Stock Exchange (TASE) Extends Trading Hours by One Hour
Trading hours will be better aligned with those of leading European and US exchanges
TEL AVIV, Israel, March 11, 2013 /PRNewswire/ --
- Monday-Thursday equities and derivatives trading will close at 17:30 (16:30 CET);
- Sunday trading will close at 14:30 (13:30 CET).
At its Thursday, 28/2/2013 meeting, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the revision of TASE trading hours. The objective of the change is to better align TASE trading hours for shares and derivatives with those of leading European exchanges and create one hour overlap with trading in New York.
Trading hours for fixed income securities will not be extended.
It is anticipated that the extension of TASE trading hours will promote higher trading volume, encourage arbitrage trading by local and foreign investors, improve liquidity, and render TASE a more attractive venue for foreign investors.
TASE CEO, Ester Levanon summarizes by saying: "The extension of trading hours is yet another measure designed to render TASE an attractive and highly accessible venue for foreign investors."
The revision of TASE trading hours is scheduled to become effective in the second half of April. It is subject to the approval of the Israel Securities Authority.
Proposed Changes to the TASE Trading Schedule
Starting time Proposed Schedule Proposed Schedule Market of trading phase Mon-Thurs. Sunday Equity Pre-opening 09:10 09:10 Opening 10:00-10:01 10:00-10:01 Pre-closing 17:14-17:15 14:14-14:15 Closing 17:24-17:25 14:24-14:25 Debt Pre-opening 09:10 09:10 Opening 09:55-09:56 09:55-09:56 Pre-closing 16:14-16:15 14:14-14:15 Closing 16:24-16:25 14:24-14:25 Derivatives Opening 09:45 09:45 End of trading 17:35 14:35
For further information, you are welcome to visit our website at: http://www.tase.co.il or contact the TASE Marketing and Communications Unit at +972-3-5677405/6.
SOURCE Tel Aviv Stock Exchange Ltd
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