OREANDA-NEWS. November 24, 2008. NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announced that starting from February 2, 2009 it will extend trading hours on all NASDAQ OMX Baltic exchanges by 2 hours, remaining open until 4:00 pm (EET).

On the stock exchanges in Tallinn, Riga and Vilnius continuous trading will start at its current time of 9:59 am (EET) and trading will end at 4:00 pm (EET). Currently, continuous trading ends at 2:00 pm (EET).

The initiative is set to generate higher trading activity in the Baltic market and to attract more foreign investors. In recent years, through its extensive local and international member network, the Baltic market has become closely correlated with other securities markets in Europe.

After extending the trading hours investors will be able to trade longer and the trading hours will better correspond to the working hours of other markets in Europe. The extended trading period will also provide Baltic investors with more time to follow the global trends and react on them timely. Longer continuous trading hours are already in place on other exchanges in the region: Stockholm (09:00 - 17:20), Copenhagen (09:00 - 16:50), Helsinki (10:00 - 18:20), Warsaw (9:00 – 16:10), Moscow (10:30 – 18:00) local time.

"Extending trading hours is akin to widening the door isle. Investors will have more freedom to trade when it is convenient for them. We were satisfied with the results when a joint trading system SAXESS was introduced in the Baltic market. In the longer term we expect to see a positive impact also from extension of the trading hours. We are committed to make the Baltic market as accessible to investors as the major markets are, and we will continue to work on this," said Henrik Elfving, president of NASDAQ OMX Baltic market.

Before deciding to extend the trading hours, the stock exchanges in Tallinn, Riga and Vilnius consulted with its members on this initiative and received favourable feedback.

"The idea of extension of the trading hours was supported by several members some time ago and something very much wished for in our Customer Survey. We feel that we have now received satisfactory support from our members," added Elfving.

Trading hours will be extended in all market segments: equities, rights, funds, fixed income, NASDAQ OMX Vilnius stock exchange special procedures and NASDAQ OMX Riga stock exchange auctions sub-markets.