What this page covers
A South African trader watching global markets has to translate every schedule. These are the main exchanges in South African time, and the days they are shut.
| Exchange | Opens | Closes | Note |
|---|---|---|---|
| JSE | 09:00 | 17:00 | Closing auction from 16:50 |
| London | 10:00 or 11:00 | 18:30 or 19:30 | Shifts with British summer time |
| Frankfurt | 10:00 or 09:00 | 18:30 or 17:30 | Shifts with central European time |
| New York | 15:30 or 16:30 | 22:00 or 23:00 | Shifts with US daylight time |
| Tokyo | 02:00 | 08:00 | Lunch break 04:30 to 05:30 |
| Hong Kong | 03:30 | 10:00 | Lunch break 06:00 to 07:00 |
| Sydney | 02:00 | 08:00 | No break |
| Market | Typical closures |
|---|---|
| JSE | South African public holidays, about 12 a year |
| New York | New Year, Martin Luther King Day, Presidents Day, Good Friday, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving, Christmas |
| London | New Year, Good Friday, Easter Monday, early May, spring and summer bank holidays, Christmas, Boxing Day |
| Tokyo | Golden Week in late April and early May, plus several single days |
| Forex | Never closes Monday to Friday, but liquidity thins on major holidays |
| Condition | Effect |
|---|---|
| A major market on holiday | Wider spreads, larger slippage |
| The week between Christmas and New Year | Thin all week, moves exaggerated |
| Golden Week in Japan | JPY pairs unpredictable |
| US Thanksgiving Friday | Half day, very thin afternoon |
| Any Friday after 20:00 | Liquidity falls away into the close |
Download this data
Every table on this page as a spreadsheet, with the source and the date it was checked in the header rows.
⬇ Download CSVHow these figures work
The figures on this page come from the body that publishes them and change on a schedule rather than continuously, which is what makes them worth keeping in one place. South Africa does not observe daylight saving, so the offset to London and New York changes twice a year without anything changing here. A strategy tied to a clock time needs checking each March and October.
The forex market technically stays open through most holidays, but a holiday in the market that provides the liquidity for a pair has the same practical effect as a closure.
★ What this means in practice
Holding a position into a long weekend means holding it through a period when nothing can be adjusted and news does not stop.
✕ Common mistakes
- South Africa does not observe daylight saving, so the offset to London a. South Africa does not observe daylight saving, so the offset to London and New York changes twice a year without anything changing here. A strategy tied to a clock time needs checking each March and October.
- The forex market technically stays open through most holidays, but a hol. The forex market technically stays open through most holidays, but a holiday in the market that provides the liquidity for a pair has the same practical effect as a closure.
- Holding a position into a long weekend means holding it through a period. Holding a position into a long weekend means holding it through a period when nothing can be adjusted and news does not stop.
- Taking a figure without its date. A number from a reference page is only as good as when it was last checked, which is why the date sits at the top of this one.
Notes on reading these figures
- South Africa does not observe daylight saving, so the offset to London and New York changes twice a year without anything changing here. A strategy tied to a clock time needs checking each March and October.
- The forex market technically stays open through most holidays, but a holiday in the market that provides the liquidity for a pair has the same practical effect as a closure.
- Holding a position into a long weekend means holding it through a period when nothing can be adjusted and news does not stop.
To put these figures to work, The Forex Market Hours in SAST runs the arithmetic on your own numbers; JSE Trading Hours and Holidays covers the same ground in ordinary language; Best time of day to trade goes into the detail this table only summarises; Why the overlap matters is the related figure worth reading beside it; and Bid-Ask Spread Cost Calculator covers what this page leaves out.
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Terms used on this page
Frequently asked questions
When does New York open in South African time?
15:30 during US daylight time and 16:30 otherwise. South Africa does not shift, so the offset changes twice a year.
When is the JSE open?
09:00 to 17:00, with a closing auction from 16:50.
Does forex close for holidays?
Technically no, but a holiday in the market that provides a pair's liquidity has the same practical effect.
Which week is thinnest?
Between Christmas and New Year, when moves are exaggerated by the absence of participants.
What is Golden Week?
A cluster of Japanese holidays in late April and early May, which makes JPY pairs unpredictable.
Why does daylight saving matter here?
Because South Africa does not observe it, a strategy tied to a clock time needs rechecking each March and October.