Trading System

On March 18th 2005 the Trinidad and Tobago Stock Exchange Limited implemented an Electronic Trading System  replacing the manual open outcry system which was used at the Exchange since its inception in 1981.
 
As at April 1st 2008, the trading days for the Exchange are every business day, Monday - Friday excluding Carnival Monday and Tuesday.

 

With the implementation of electronic trading the trading period now has four market states as follows:

(i)    Pre-Open: 8:00 - 9:30
(ii)   Open: 9:30 - 12:00
(iii)  Pre-Close: 12:00 - 2:00
(iv)  Close: 2:00

 

This system allows for trades in all securities to be executed continuously and also allows brokers to enter orders and execute trades from their offices, eliminating the need for a trading floor.

 

Orders entered in the trading system are queued in the market and filled based on the following criteria:

(i)    Best Price
(ii)   Earliest Timestamp

 

Time stamp is used as the final deciding factor as the time stamp is always a unique value (i.e., two orders can never have the same time stamp)

 

In order to ensure transparency in the market members of the public can visit the Exchange on any trading day to view the trading activity.