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Budapest Stock Exchange to extend trading hours

It is almost certain that the Budapest Stock Exchange (BSE) will extend its trading hours by 30 minutes, business news site reported citing market sources. The change can be made effective from December 1, if the BSE's board so decides.

As the BSE's proposal is backed by the brokerages, as well as clearing house KELER Zrt and other players, it is almost certain that trading hours will be lengthened. According to them, the board will address the topic at its November 24 meeting.

The change would affect every product traded on the BSE except for the commodity section.
No changes will be made in the structure of trading periods.
Some rise in trading volumes can be expected both on the bourse and at brokerages.

Trading hours elsewhere in the CEE region are already shorter than at the BSE. This change moves the Budapest bourse closer to the western European trend, where the most common trading period is from 9.00 to 16.30.

The last time the BSE introduced major changes in its trading hours was in 2003. Then the 10-hour trading day was cut to nine hours in order to harmonize trading to EU bourses. The same motivation may be behind the expected modification now. (BBJ)