ETF platform hours extended by Tradition and Nomura
Tradition and Nomura have extended the trading hours for their their multilateral trading facility (MTF) platform for trading ETFs.
Navesis-ETF was launched offering half-day trading. This has now been extended to full-day trading into the late afternoon, following consultation with members.
Trading hours under the new regime will be 09.00 – 15.15 (GMT), with a dark auction to take place from 15.15 – 15.30 (GMT). Tradition and Nomura said that the extended hours will enhance trading efficiency, and allow customers to better manage their inventory through the day.
Rupert Hodges, managing director – TFS Derivatives Ltd, London, at Tradition said: “We are very pleased with the progress of Navesis-ETF since its launch in the spring. We have 23 members live, including some of the biggest names in the industry, and trading momentum has exceeded our expectations. We are further enhancing the offering from Navesis-ETF by extending our trading hours into the afternoon. This is something that our members have requested and we have responded quickly improving the trading flexibility of the platform. This evolution in the platform should allow Navesis-ETF to offer even more competitive pricing, better trading, broader access and efficient execution for all our members. We are conscious that the ETF market continues to evolve and we aim to continue to be at the forefront, addressing our member’s needs”.