Trading Phases

Trading sessions at the Belgrade Stock Exchange are organized every working day, from Monday to Friday, according to the following schedule:

Regulated Market
1. On the Regulated Market segment, trading in shares on the market segments: Prime Listing - Shares and Opet Market - Shares, shall be organized by the continuous trading method with the following duration of regular and special trading phases within the applied fluctuation zone model representing a combination of the AZF and SZF:
REGULAR PHASES
o 9:00 – 9:30 preopen phase, with sub-phases:
        9:00 – 9:25 order entry
        9:25 – 9:30 random period
o 9:30 opening
o 9:30 – 14:00 continuous trading
o 14:00 closing, or later for the duration of the activated special phase
SPECIAL PHASES - which are activated by breaching the SZF
o 10 minutes – preopen extension, with the sub-phases
        8 minutes - extension of order entry
        2 minutes - random period of the extension
o 10 minuta – intraday auction, with the sub-phases
        8 minutes – intraday order entry
        2 minutes – intraday random period
2. On the Regulated Market segment, trading in debt securities and other financial instruments on the market segment: Prime Listing – Government Bonds - EUR and Prime Listing – Government and Municipal Bonds - RSD, shall be organized by the continuous trading method, with the following duration of regular phases within the applied fluctuation zone model containing only AZF:
REGULAR PHASES
o 9:00 – 9:30 preopen phase, with sub-phases:
        9:00 – 9:25 order entry
        9:25 – 9:30 random period
o 9:30 opening
o 9:30 – 14:00 continuous trading
o 14:00 closing
MTP BELEX
1. On the MTP BELEX trading in shares on the market segments: MTP shares shall be organized by the continuous trading method, with the following duration of regular and special trading phases within the applied fluctuation zone model representing a combination of AZF and SZF:
REGULAR PHASES
o 09:00 – 9:30 preopen phase, with sub-phases:
        9:00 – 9:25 order entry
        9:25 – 9:30 random period
o 9:30 opening
o 9:30 – 14:00 continuous trading
o 14:00 closing, or later for the duration of the activated special phase
SPECIAL PHASES - which are activated by breaching the SZF
o 10 minutes – preopening extension, with the sub-phases
        8 minutes - extension of order entry
        2 minutes - random period of the extension
o 10 minutes – intraday auction, with the sub-phases
       8 minutes – intraday order entry
       2 minutes – intraday random period
2. On the MTP Belex, trading in debt securities and other financial instruments on the market segment MTP Government and Municipal Bonds – RSD shall be organized by the continuous trading method, with the following duration of regular phases within the applied fluctuation zone model containing only AZF:
o 9:00 – 9:30 preopen phase, with sub-phases
        9:00 – 9:25 order entry
        9:25 – 9:30 random period
o 9:30 opening
o 9:30 – 14:00 continuous trading
o 14:00 closing

Download: The decision on the phase duration within a particular trading method

Value1.203,93
Change-9,05
% -0,75%
22.08.2025. 14:01:01More
EUR/RSD117,1695
USD/RSD101,1390
Source NBS, 22.08.2025.
Market Capitalization - 22.08.2025.
494.170.686.301 RSD
4.217.571.009 EUR

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