Dubai: The Abu Dhabi Securities Exchange announced two initiatives on Saturday, extending its trading hours and cutting trading fees by 50 percent.
The stock exchange said it would reduce trading commissions on all deals by 50 percent, from September 1. The market also announced the extension of trading hours for an additional one hour, with the trading day from 10am to 3pm, starting from October 3.
Trading fees will be reduced to 0.025 percent instead of 0.05 percent. This is the third reduction that the market has made in less than three years and the second during 2021.
The extension of the trading period for an additional hour has been made to harmonize the exchange’s operations with global markets, according to an official statement to the market.