When any news is released it hits all mm/broker screens at the same time. If details were released after close, the German market would also be closed until the following day.

MMs/brokers could factor the news into the price prior to the opening in Germany, a gap situation. The accuracy of the gap-price would be seen when dealing starts in other markets.

As Germany is a secondary market for Patriot, there shouldn`t be that much difference in the price when trading commences on the BB, if at all.

Obviously, if Germany traded 10 times normal volume, there would be a marked effect on the price, which could go up, down or remain the same at BB opening... there could be either gains or losses by buying in Germany.

Also, it should be possible to trade continuously, in any normal 24 hour period, on various global exchanges. That being so, Japan would have 1st mover advantage.

Be well