Trading sessions and the settlement cycle
20 May 2025
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The trading day on the Tbilisi Stock Exchange is divided into three main sessions. Each session operates within strictly defined hours, allowing market participants to plan their operations effectively. A clear understanding of trading sessions and the settlement cycle is essential for every broker and investor.
Daily trading schedule
The table below shows the standard session schedule in local time:
| Session | Time |
|---|---|
| Opening auction | 09:45–10:00 |
| Continuous trading | 10:00–15:45 |
| Closing auction | 15:45–16:00 |
| Post-trading session | 16:00–16:30 |
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The T+2 settlement cycle
All transactions executed on the exchange are subject to the T+2 settlement standard, meaning that financial settlement is completed two business days after the trade date. This international practice ensures market stability and significantly reduces operational risk.
- T+0: Trade execution and electronic confirmation
- T+1: Transaction verification and automated matching of counterparties
- T+2: Final exchange of securities and cash
The settlement process runs through a central counterparty, providing a reliable guarantee for all participants. For further information, please see our trading rules.
