Evening trading which was broker-initiated has been prepared since last summer. When studying evening trading, HEX has seeked a solution that would satisfy the markets as well as possible.
The extension of trading hours is HEX’s response to changing demand. For example, the rising popularity of private investment and online investing require a new kind of flexibility. The extension of trading hours is also a part of Pan-European development. Evening trading will maintain the good liquidity of HEX listed securities while providing the players with the facilities of a regulated market place for longer hours. Furthermore, new prospects will open for members when developing their customer services.
Evening trading will serve especially private investors. Several European exchanges have already either extended their trading hours or published plans to do so, says Jukka Ruuska, CEO and President of the HEX Group.
The same rules are applied to evening trading as to continuous trading. Also the same settlement periods (T+3 for automated matching) apply. All shares quoted on the parallel lists at HEX are subject to trading. The official closing prices and reference prices are confirmed at 6 pm but the calculation of indices and transmission of company news will continue until 9 pm. At the close of continuous trading, the orders for the day are deleted, unless the member chooses to transfer valid orders into the evening trading session.
A corresponding adjustment of the trading hours for derivatives is under consideration.
