Bucharest Bourse Extends Trading Hours By 15 Minutes

05.22.2011 ZF English

The management of the Bucharest Stock Exchange (BVB) has decided to extend the trading hours by fifteen minutes, from 4:30 PM to 4:45 PM local time to allow investors to react to the trends on US markets, which open at Bucharest closing time.

BVB expects this measure to bring a 2% increase in the daily traded volume.

At present, the trading session opens at 10:00 AM and ends at 4:30 PM, the time when overseas, the world's biggest stock exchanges - New York Stock Exchange and NASDAQ - open, with a seven-hour time zone difference.

The extension of the trading hours by 15 minutes, to 4:45 PM, will allow the Bucharest Stock Exchange and the North American ones to have 15 minutes of joint trading.

Since the Bucharest Stock Exchange is tightly connected to the trends of the Western European and US stock markets, this will give local investors fifteen minutes to react to the opening of the Ney York stock exchange or to the financial results announced by US companies.

The introduction of the new trading hours will most likely occur in June and will be announced 15 days ahead.