Mar 2008 Financial News

Five Days of Trading for Stock Exchange

Mar 04, 2008

Local investors will have something to smile about as they will have a full five days to trade on the local stock market from April 1.

The Trinidad and Tobago Stock Exchange said yesterday that the Securities and Exchange Commission (SEC) approved a rule change and was moving to implement a five-day trading week.

Stock trading days were previously only on Tuesday, Wednesday and Friday.

The Stock Exchange noted that continuous trading will commence on every business day, Monday to Friday excluding Carnival Monday and Tuesday or statutory holidays effective April 1.

In a previous statement filed with the SEC, the Stock Exchange gave its reasons to extend trading to five days a week: "We think that shareholders of public listed companies should enjoy the same access to their assets as do clients of banks, which are open on every business day of the week. The stock market is a bank for securities."

The Barbados and Jamaica exchanges already trade from Monday to Friday and all major international exchanges have adopted a system of trading on every business day.

Richard Young, managing director of Scotiabank, which is also traded on the local stock market, had previously commented that it was a good move to improve trading activity on the market and trading five days a week would mean the Exchange would be "revving up" for greater activity.

Source:
Julien Neaves
The Trinidad Express
Tuesday 4th March, 2008

http://www.trinidadexpress.com/index.pl/article_business?id=161287412