Dubai Financial Market will add a five-minute 'trading-at-last session' to its daily routine
Dubai Financial Market, the emirate's main stock exchange, will add a five-minute "trading-at-last session" to its daily routine as it adjusts the pre-closing session next month, it said on Monday.
The pre-closing session, which now runs for 10 minutes starting at 1350 local time, will begin at 1345 from June 4 and have a more clearly defined time frame for placing and cancelling orders.
The new trading-at-last session will start 20 seconds after 1355, allowing investors to place orders based on the already calculated closing prices of securities.
A similar phase is used by pan-European stock exchange Euronext. Dubai Financial Market said it was making the changes after consulting market participants about how to adopt international best practices.