Singapore Exchange said Tuesday it would introduce on 3 June a 10-minute “trade at close” session, which will let participants execute orders at the closing auction price. The TAC session will immediately follow the closing auction routine.
“The extended trading phase, TAC, will enable our customers to transact at an already-established closing price,” said Nico Torchetti, head of market services at SGX, said in a statement. “Investors and brokers who desire price certainty or those looking to fill an order that was not completely transacted during the closing routine will benefit from the new TAC session.
The TAC session will only happen if there is a closing auction price for a security, SGX said.
The TAC session will run from 5:06 P.M. to 5:16 P.M. on regular trading days, and from 12:06 P.M. to 12:16 P.M. on half-days, SGX said.
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