Strap in MENA stock traders, bourses in the UAE are extending trading hours. Yesterday, the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) announced their decision to extend trading hours to five hours a day (10am to 3pm) starting October 3rd.
Not only will you soon be getting more time to trade, it’s also going to be cheaper. The ADX announced it will also be cutting its trading commissions in half from 0.05% to 0.025% starting September 1st. Chairman of the ADX Mohammad Al Shorafa hopes that the “lower trading commissions and longer trading hours” will “serve to attract increased international investment.”
why it matters
International investment is key to the success of the ADX and DFM. The decision to extend trading hours is in line with directions from the UAE’s Securities and Commodities Authority and will bring the bourses closer in line with the operating hours of other exchanges around the world.