Chi-X Europe and Turquoise, two rival pan-European multilateral trading facilities (MTFs), have announced plans to extend their trading hours for Spanish stocks.
Turquoise, which was launched in Q3 2008 by a consortium of global investment banks, will end its trading session for Spanish stocks at 16.30 (UK time) from 29 June, ten minutes later than the previous 16.20 close. The move brings Spanish securities traded on Turquoise in line with other stocks available on the platform.
Chi-X, owned by Nomura, the Japanese financial services group, and 14 other shareholders, will shift its close from 16.15 to 16.30 on July 1. BME (Bolsas y Mercados Españoles), the Spanish primary market, concludes trading at 16.30.
Chi-X launched trading in Spanish securities on 22 January 2009, when it began offering all IBEX 35 stocks, while Turquoise introduced trading in Spanish equities in February.