(Vienna) 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)
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About Wiener Börse AG
As the main provider of market infrastructure in the region, Wiener Börse AG is the gate to global markets. Operating the stock exchanges in Vienna and Prague, the group offers state-of-the-art systems, information and IT services. Listed companies receive maximum liquidity and investors benefit from fast and cost-effective trading by the market leader. Wiener Börse AG also collects and distributes stock market data and calculates the most important indices of the region. Because of this unique know-how the national stock exchanges in Budapest, Ljubljana and Zagreb trust its IT services. Additionally, the group holds stakes in energy exchanges and clearing houses.
Exclusion of Liability
This press release may contain certain forward-looking statements and forecasts that are based on assumptions current made at the time of publication of this press release. We do not assume any liability for these forward-looking statements materializing. Furthermore, we would like to explicitly point out that this press release cannot serve as a basis for investment decisions and may not be construed as a solicitation to buy or a recommendation to invest by Wiener Börse AG. No liability is assumed for the information given in this press release.