Changes to Bursa Pre-closing and Trading-at-last
Filed Under (Bursa News) by Webmaster on 06-10-2009
Tagged Under : bursa new trading system, pre-closing, trading at last
Bursa Malaysia has decided to remove two features – pre-closing and trading-at-last – from the morning session with effect from Oct 26.
Their removal would result in an additional 15 minutes of continuous trading, the exchange operator said in a statement. However, Bursa said these two features would be retained for the afternoon session.
The pre-closing phase was intended to mitigate price manipulation and was especially suited for the end of a trading day, it said.
The trading-at-last, which comprises the last 10 minutes of a trading day, will provide traders with the opportunity to trade at the closing price of a stock.
“This improvement is made in consultation with market participants who echoed their support in making trading experience seamless and opportunities continuous for investors.
“Our priority is to facilitate a trading platform that gives accessibility in trading while maintaining price transparency and efficiency,” Bursa chief executive officer Datuk Yusli Mohamed Yusoff said in a statement.
