St. Petersburg Exchange eyes 24/7 trading after weekend success
The St. Petersburg Exchange, led by Boris Blokhin, is exploring the possibility of expanding weekend trading hours on TradingView, potentially as early as next year. This move follows the successful launch of weekend trading in February and could be the first step towards round-the-clock operations.
The exchange initially started weekend trading from 10:00 AM to 7:00 PM, later extending it until 11:50 PM. This change has led to a record number of active investor accounts and trades in Russian securities during regular trading sessions, as seen in September. Currently, the exchange offers trading in 225 Russian securities on weekdays and 150 on weekends.
The transition to extended trading hours is not without challenges. Yevgeny Serdyukov, a key figure, believes it will require significant overhauls of technology and software. Blokhin acknowledges the complexity of the project, estimating a timeline of three to five years. However, he also recognises the global trend moving towards 24/7 trading, which the St. Petersburg Exchange aims to align with.
The St. Petersburg Exchange's plans to expand weekend trading hours, potentially leading to 24/7 operations, reflect a strategic move to keep up with global currency exchange trends. Despite the challenges and the projected timeline, the exchange is committed to exploring this possibility, with market participants set to discuss the details in the near future.
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