Frankfurt extends stock trading hours as competition heats up (updated)

Tradegate AG

24/11/2021 11:36

(Adds details, comments)
    By Danilo Masoni
    Nov 24 (Reuters) - Deutsche Boerse  DB1Gn.DE  will allow
stock investors to trade on the Frankfurt exchange until 10 pm
starting from Monday, a move that highlights heightened
competition among exchanges to win over clients.
    "By extending trading hours, investors can react to events
on the U.S. markets late in the evening, among other things, and
take advantage of on-exchange trading," the German bourse
operator said in a statement on its website.
    The extension would affect shares, exchange traded funds and
mutual funds, and has been made possible by the new securities
clearing platform introduced by Eurex Clearing in September
2021, it added.
     Traders said the move could bring higher volumes for
Deutsche Boerse but also raise costs, while putting pressure on
rivals to possible consider a similar move.
    Retail investors in Germany are already able to trade until
10pm through the Tradegate  T2GG.F  platform which is also used
by professional traders.
    The move is the latest development by exchanges to increase
revenues by allowing punters to trade markets in different time
zones. While some exchanges like Moscow have already increased
their trading hours to attract Asian clients some exchanges like
Tokyo are taking tentative steps in that direction.  urn:newsml:reuters.com:*:nL2N2KZ0ZF
    Shares in the exchange operator have underperformed the
broader German market  .GDAXI  with shares up only 2% so far
this year compared to a 15% rise in the index. 
    They have also lagged shares in pan-European rival Euronext
 ENX.PA  although they have done better than the London Stock
Exchange < LSEG.L>. 

 (Reporting by Danilo Masoni; Editing by Saikat Chatterjee)
 ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))