Starting 2 August 2009: Trading on TASE Equity Market 2 Minutes Shorter

Starting 2 August 2009: Trading on TASE  Equity Market 2 Minutes Shorter

At a meeting held July 2, 2009, the Tel Aviv Stock Exchange (TASE) Board of Directors decided to shorten the trading in shares, bonds and treasury bills by two minutes. 

The decision was taken to address the need expressed by several investors for an interlude between the close of trade in the equity markets and the close of derivatives and market-tracking products. 

The shortening of trading on the cash market will give investors time to adjust their positions to the reference price of the underlying asset. 

The change in the timing of closing trade in equity markets will come into effect on 2 August 2009 as follows: 

·         The pre-closing stage of securities trading will begin at a random point of time between 16:14 and 16:15.

·         The closing stage of securities trading will occur at a random point of time between 16:23 and 16:28. 

The close of derivatives trading will remain unchanged.