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Economy07:46 · 1h ago

Tel Aviv Stock Exchange to Close Early Friday Due to Yom Kippur Eve

By דסק C14Updated 39 minutes ago
Translated & summarized from Now 14 by baba
The story · English

The Tel Aviv Stock Exchange will not hold trading on Friday, despite it not being a holiday, due to a technicality related to the upcoming Yom Kippur holiday. Since the exchange shifted to a Sunday-to-Friday trading week at the start of 2024, a rule states that if a Sunday is a holiday eve, the preceding Friday will also be a non-trading day.

This Friday's closure is because the following Sunday is Yom Kippur eve, a day when clearinghouse operations do not occur. According to the exchange, if clearing does not happen on a Sunday, then trading is suspended on the preceding Friday.

This is the first time this specific scenario has occurred since the exchange adopted its new trading schedule at the beginning of the year. Investors are advised to always check the updated trading schedule, as Fridays are not automatically trading days under the new system.

Read the original at Now 14
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