Trading hours

Placing of orders

• Telephone orders may be placed during service hours between 8 a. m. and 6 p. m.
• Orders via electronic channels may be placed around the clock.

Execution / forwarding to the relevant trading platforms

• During the service hours between 8 a.m. and 6 p.m., orders are forwarded to the relevant trading platforms provided the security is listed in the exchange system.
• Orders regarding North American exchanges will be forwarded to the relevant trading platforms until 10 p.m., at a price determined by the VZ Depository Bank.

Bilateral agreements on trading in securities and practices in trading between financial institutions or with professional clients may provide for different rules.

In addition, the opening hours of the respective trading venues or trading systems must be observed.

Last update: September 2019