Dow Jones aligns Industrial Average with Europe
US/EUROPE – Dow Jones Indexes is planning to extend the real time calculation of the Dow Jones Industrial Average to 13 hours a day in order that it begins at the start of the European trading day.
The 3am start scheduled to take effect in September and based on Deutsche Boerse prices will mean that six and a half hours before the traditional 9.30am kick off in New York investors will be given an indication of the Dow Jones Industrial Average’s level based on actual trades of the 30 biggest US stocks on the electronic trading platform of the German exchange.
While real-time updating of the Dow Jones Industrial Average will begin at 3am EDT, the official Industrial Average calculation will take over as usual at 9.30am EDT when component pricing will shift to the NYSE and NASDAQ markets.
Peter Kann, chairman of Dow Jones & Company, comments: “Now more than ever investors need to know how the market is doing at anytime of the day or night.
“ The Dow Jones Industrial Average is a key barometer throughout the global market place and this is our first step in making the Dow Jones Industrial Average available around the clock.”