BME: Open Outcry Trading To Go Electronic As Of July 10 - Greater Accessibility And Transparency On The Trading Floor

The Spanish Stock Exchange has decided to transfer the shares that are traded in open outcry pits to an electronic trading pit environment. The initiative is intended to boost the shares’ liquidity, transparency and accessibility.

The switch to the new electronic trading system – a more agile and modern mechanism – will take place on July 10. At present 42 companies are traded in outcry pits and represent less than 1% of the total trading volume on the Spanish stock exchange.

With this initiative, the exchange provides the different trading segments of the market with a more modern trading environment for any type of company, whether large or small, while at the same time offering all investors, whether retail or institutional, the chance to trade with greater transparency.

Trading on the new electronic pit will take place from 8:30 to 16:00 hrs from Monday to Friday in Fixing format, that is, the prices will be fixed twice during trading session, at 12:00 hrs and at 16:00 hrs, with the aim of contributing to the achievement of a more efficient price discovery for these stocks.