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.For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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