Moscow Exchange to keep moving toward 24h trading, expects to near 24/7 in 2-2.5 years

MOSCOW. Aug 14 (Interfax) - The Moscow Exchange plans to gradually extend its trading hours in order to get as close as possible to round-the-clock operations within the next few years, the exchange's senior managing director for sales and business development, Boris Blokhin said.

"We confirm our plans to move in the direction of 24/7 trading, but will do this step-by-step, because it will affect the whole industry. Our steps are very simple. First we'll abandon regular technical suspensions of trading on weekends. Right now the exchange suspends work on the weekend about once every five weeks to conduct scheduled technical releases," Blokhin said at the Media Days seminar for journalists.

"In future, we will gradually synchronize weekend trading hours with weekday trading hours and steadily extend trading hours in agreement with participants from the current 7:00 a.m.," he said.

"This is the medium-term plan. This year we're not planning significant moves in this direction. The process of transitioning to a schedule that is as close as possible to 24/7 could take about two to two and a half years," Blokhin said.

Trading on the Moscow Exchange's stock and derivatives markets is currently conducted from 6:50 a.m. to 11:50 p.m. Moscow time on weekdays, and from 9:50 a.m. to 7:00 p.m. Moscow time on weekends.