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The Vienna Stock Exchange is extending its daily trading hours from 1 December 2020. With the latest update of the XETRA® T7 trading system, the "Trade at Close" (TaC) functionality will be introduced. It enables market participants to trade at the official closing price up to 10 minutes after the closing auction. No new price formation occurs during this time. Trading participants who wish to take advantage of this function must mark their orders accordingly. Existing liquidity can thus also be used after the closing auction in the regulated exchange environment with full pre- and post-trade transparency. On average, around one third of all transactions take place in the closing auction.
"The importance of the stock exchange closing auction as an equilibrium price has increased significantly in recent years. Trading at the closing price organized by the stock exchange is increasingly becoming an industry standard. We are pleased to now also offer this service to our market participants and IT customers," says Christoph Boschan, CEO of Wiener Börse AG.
Currently, the trading day starts with the opening auction of ATX stocks at 8:55 a.m. with pricing at around 9:00 a.m. This is followed by continuous trading interrupted by a scheduled midday auction from 12:00-12:03 p.m. The trading day ends with a closing auction between 17:30-17:35 p.m. From 1 December with trading at the closing price, the official trading hours will run until 17:45 p.m.
Download infographic: Trading day in prime market (jpg-file 340 KB)
