Qatar Financial Markets Authority has given the green light to implement as of Tuesday the 1st of February a decision taken by its board early this month to amend tick sizes and daily trading hours at Qatar Exchange.
During a press conference held Monday at Qatar Exchange, Mr. André Went, Chief Executive Officer of Qatar Exchange, gave a detailed presentation about tick sizes and illustrated by examples the implementation mechanism of the tick sizes during trading sessions. Furthermore, Mr. Went explained the importance of the new tick sizes and their impact on liquidity, volumes of trade on Qatar Exchange and trading opportunities for investors.
He explained that the tick sizes will be 1 dirham for the stock price ranging from 1 QR. To below 25 QR ; and 5 dirhmas for the stock price ranging from 25 QR up to below 50 QR; and 10 dirhams for the stocks equal to 50 QR or above.
Went added that the QFMA also approved the increase of the daily trading sessions with one hour, of which half an hour at the opening of trading and half an hour at the closing of the trading session, so the continuous trading hours will start at 9:30 hrs. and ends at 13:00 hrs.
The CEO went on saying that the pre-opening phase will be between 9:00 hrs. and 9:30 hrs., adding that the continuous trading phase will be followed by a 15-minute period, divided into 10 min. for the pre-closing period and 5 min. for the trading at last period.