Market hours: pack pleaser | Financial Times

The Wolf of Wall Street labored arduous and carried out extra sturdy. His counterparts over throughout the City of London want shorter shopping for and promoting hours in order that they will even have a balanced existence – without Jordan Belfort’s trademark excesses.

Fair play. Traders and brokers on the London stock market put in longer hours than mates within the totally different world shopping for and promoting hotspots along with New York, Tokyo, and Hong Kong. Most of Asia take a one-hour lunch break; in Japan, the market is simply open for two-and-a-half hours sooner than retailers down devices for hirugohan.

Of the first equity markets, solely these in Europe have shopping for and promoting days as long as the UK. London’s turns over roughly the equivalent, measured by value, as Hong Kong and – based totally on year-to-date information – one-seventh that of New York.

Computers can do way more of the heavy lifting than was the case throughout the days when Mr. Belfort was pumping and dumping shares throughout the glitzy workplaces of Stratton Oakmont. UK-based information monitoring company Coalition estimates roughly half of all cash equities shopping for and promoting is now achieved electronically, up from a third spherical six years up to now. Robots don’t have any households or occasions to go to – they’ll work all by the night and day if need be.

This is simply not the case for human retailers, who in London ought to already take care of ghastly commutes, Third World infrastructure, and horrid local weather. Exchange bosses ought to scale back them some slack.

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