The Dubai International Financial Exchange has announced that it will implement six-day trading week system from November 17th. Dubai Financial Market and Abu Dhabi Securities Exchange, the two state-controlled exchanges that operate in the UAE, are open for trading from Sunday to Thursday.
The DIFX currently trades from Monday to Friday from 11:45am to 5:00pm, the new plans will enable investors to trade shares from Sunday to Friday from 10 am to 5:00pm local time.
The DIFX said today that the move will bring trading hours for investors more in line with the Dubai Financial Market and the Abu Dhabi Securities Exchange, the two state-controlled exchanges that already operate on Sundays
The exchange will open for the first time on Sunday November 23. Trading will begin at 10:00am and end at 2:00pm UAE time.
Jeff Singer, Chief Executive of the DIFX, said: “The new timings move the DIFX closer to the trading times of other exchanges in the region. This is an important part of our commitment to facilitate access for regional investors to the opportunities on our market."
“The extended hours also increase the periods when international investors can access the exchange, which will support market activity on the DIFX”, he added.
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