FROM 8.00 AM TO 18.00 PM MSK
The first market to open trading on the SPB Exchange - securities of companies listed on the Hong Kong Stock Exchange.

FROM 10.00 AM MSK
Liquidity is formed due to the activity of the domestic market: market-makers, retail and algorithmic traders. In this time frame SPB Exchange is a unique provider of liquidity for the most popular US equities.
Trading of international companies’ securities is started.

FROM 2.30 PM MSK
With the opening of the US premarket, the number of available sources of liquidity increases.
All of the US listed securities, including ETFs, start to trade.

FROM 4.30 PM TO 11.00 PM MSK
With the opening of US markets unlimited global liquidity becomes available to customers.

FROM 11.00 PM TO 1.45 AM MSK the next day
It is possible to keep trading on SPB Exchange even after the close of trading in the United States. We use the US post-market as an additional source of liquidity.
Large (in terms of price and volume) orders that do not require immediate execution can be placed in the closing auction.

Our business model is aimed at providing the best possible conditions and prices for private investors. The use of best execution enables us to compete with the world’s leading exchanges for better prices. During trading sessions on the exchanges where the stocks are originally listed, we use those exchanges as sources of additional liquidity. Trades of U.S. equity securities are made at the best price available at the moment the trade order is placed in all active sources of liquidity.

Smart routing technology relieves our customers of the need to compare rates in order to get the best prices. Upon order execution our technology automatically compares prices and volumes across all available sources of liquidity at that moment and executes the order at the best price available. All orders on SPB Exchange are executed through the central counterparty.

The Central Counterparty “SPB Clearing” (joint-stock company), a subsidiary of SPB Exchange, is part of the Exchange’s trading and clearing infrastructure. Clearing Centre MFB is the central counterparty for all deals made on SPB Exchange.

High-frequency traders can reach their potential by acting as market makers at SPB Exchange. We look toward mutually beneficial cooperation allowing algorithmic traders to act as liquidity providers. The market infrastructure is furnished with everything required for successful HFT trading.

U.S. equity security prices on our platform are the same as those available on the primary listing venue during their main trading hours.

Information disclosure on the Exchange's website makes markets more transparent for investors.

SPB Exchange provides access to information on corporate action, including:

• Distributions (dividends, splits and reverse stock splits);
• Capital change (M&A deals, spin-offs, etc.);
• Investor Calendar;
• Analytic reviews of international markets by market experts.

We provide a suite of information products and services based on data and content generated from a variety of public and non-public sources, including trading activity on our platform and our subsidiary BestStocks.ru.

There are various options and opportunities for:

• residents and non-residents;
• individuals and legal entities.

As a unique provider of valuable financial content, SPB Exchange provides comprehensive access to a broad range of data. SPB's real-time data feed for US and Hong Kong equities and ETF is based on data from 5 AM GMT, which is well ahead of other venues. Historical data product supports post-trade analysis and back testing strategies with a tick-by-tick record.

The exchange offers services for creating indices based on securities listed on the Exchange and on over-the-counter market:

• Global stocks (USA, Hong Kong, Russia)
• Asian, Indian, European ADRs
• ETFs

Index development service includes:

• methodology development;
• value calculation software;
• information about the index on the Exchange website (charts and historical data).