Extended opening hours were introduced on Stockholmsbörsen on February 26 this year. During the subsequent evaluation period of around 3 months a number of different requests were made by different customer groups relating to the continued development of extended trading hours. It emerged that different customer groups have different trading needs: retail investors want to be able to trade during most of the day and evening whereas institutional investors must be able to end their trading day when a normal working day ends. With the decision taken by the Board, Stockholmsbörsen is now able to offer a differentiated range of services for its members who in turn are able to offer their clients either trading on a daytime exchange only or trading on both a daytime and evening exchange.
- We believe in increased accessibility to the market and we believe in enabling investors to trade at those times that suit them, explains Niklas Midby, Vice Chairman of Stockholmsbörsen. This is why we have been searching for, and have now found, the solution that allows us to offer a market that has the greatest accessibility in the world.
- In dialogue with members after the Board meeting the decision has been met positively. We are happy to have found a solution that satisfies the requirements of many of our members and customers. Now our members will be able to decide for themselves the extent to which they wish to participate in the evening exchange, continues Simon Nathanson, acting President of Stockholmsbörsen.
With effect from October 15 Stockholmsbörsen will introduce daytime trading between the hours of 9.30 a.m. and 5.30 p.m. At 5.30 p.m. the market will be closed for a short period. At this point the index calculations will cease and the daytime exchange's last prices will be established. This will ensure that institutional investors and members can make their necessary calculations at this time. At 5.40 p.m. the evening exchange will be opened and will continue uninterrupted until 10 p.m. when the evening exchange's last prices will be established through a closing auction. The derivative and warrant markets will not be part of the evening exchange. Participation in the evening exchange is voluntary and open to those members who wish to offer this service to their clients. For those investors who are active during evening hours, the evening exchange will in no way change the way equity trading takes place. For more information about the evening exchange, please see the attached Exchange Notice.
