OREANDA-NEWS. July 7, 2011. Beginning from September 1, 2011, the MICEX will extend the time of trading in the stock market.

Participants in the MICEX Stock Market will be able to trade beginning from 9:30 am, Moscow time. The trading session will end at 19:00.

Trading in the negotiated deals mode and repos will begin at 9:30.

The pre-trading period of the main trading mode will be moved from 10:15 to 9:45, and the beginning of the trading period of the main trading mode, the most important period for price formation, will be moved from 10:30 to 10:00, respectively.

The moving of the beginning of the trading period of the main trading mode to 10:00 will synchronize the opening of the MICEX Group’s stock and currency markets. This will enable participants to implement the most effective trading strategies involving the movements of the rates of currencies and securities. Besides, changing the time of the beginning of trading will help to synchronize the operation of the stock markets of the MICEX and the RTS.

According to the MICEX President Ruben Aganbegyan, the synchronization of the beginning of trading in the stock markets of the MICEX and the RTS is an important step in the integration of Russia’s two leading exchanges and the provision of the equivalent amount and quality of services to participants in trading on both exchanges.

“The moving of the beginning of trading to an earlier time is a correct and timely measure. One of important business problems that the combined exchange will face will be the organization of twenty-four-hour trading. This requires the unification of the time of trading on the MICEX and the RTS,” said Roman Goryunov, Chairman of the RTS.

President of the Russian Association of Exchanges Anatoly Gavrilenko commented on the extension of the time of trading in the MICEX stock market: “It’s good to see your ideas implemented. And when the time of trading on the MICEX is moved to an earlier time in the morning it’s twice as good! We are moving to the East. We will grow with Siberia. Our dreams are coming true.”

In his turn, Ruben Aganbegyan said: “The beginning of trading in the earlier hours of the morning is not only consistent with best international practice, but also extends the time of simultaneous trading on Russian and Asian floors, which is important for a regional financial center located between Europe and Asia.”