Tuesday January 17 2017
News Source: Global Exchanges
Focus: Holidays and Opening Hours and suspensions
Type: General
Country: Israel
Link: http://www.tase.co.il/Eng/NewsandEvents/PRArchive/2017/Pages/PR_20170115.aspx
The Tel Aviv Stock Exchange (TASE) has announced that changes regarding the shortening of trading halts entered into force on 16 January 2017.
The TASE Board of Directors resolution shortens the duration of trading halts by 15 minutes, from 45 Minutes to 30 Minutes. A trading halt occurs when material information is released about a trading company, its controlling shareholders or its securities. Under these circumstances, TASE`s CEO or an individual authorised by them, may temporarily suspend trading in the company’s securities. Trading halts are designed to give investors the time to consider and plan their next steps based on the new disclosure.
The decision to shorten the duration of the trading halt from 45 minutes to 30 minutes was made, following requests from TASE members and investors. In light of the technological advances made since the introduction of the existing framework of trading halts, including the posting of corporate reports online on MAYA and the improved accessibility and timeliness of order submission on TASE, the Board decided that there is no longer a need for such long trading halts. The shorter trading halts give investors ample time to process the newly released information, and will minimise interruptions to the continuous trade flow on the other.
Click on the link above for further details.