An official announcement by Alpari reveals that the firm has revised its trading conditions when it comes to rollovers. The broker has been interrupting trading between 23:55 and 00:05 Eastern European Time (EET) every trading day.
Such a practice was not uncommon with a number of foreign Exchange brokers some years ago. Evolving technology changed this for a big majority of firms in the industry. Despite being late to the party, Alpari now starts to deliver uninterrupted trading to its clients regardless of rollover conditions.
The firm will abolish the 10 minutes break practice starting on the 11th of May
The firm will abolish the 10 minutes break practice starting on the 11th of May, 2015. For clients of Alpari the markets will continue opening at 00:05 EET on Monday and closing at 23:55 EET on Friday.
Uninterrupted trading has been customary for foreign exchange traders for years, and timing the daily trading break which clients of the firm sometimes coincided with major economic events. The Reserve Bank of New Zealand normallyannounces its interest rates decisions around the same time.
Other scheduled releases of data from New Zealand have frequently influenced the local currency markets in the mentioned period.
While antipodean currencies are not that popular to trade, in recent years the Kiwi (which is the trader lingo for the New Zealand dollar), the Aussie (Australian dollar) and the Loonie (Canadian dollar), have all been picking up volumes.
According to information obtained by Finance Magnates' reporters, the share of Kiwi trading at some major brokers in the industry has reached about 5% when it comes to their foreign exchange offering.
