|
|
Article: Time on their side. (traders at the Pacific Stock Exchange fight proposed earlier opening at the New York Stock Exchange)
- Article from:
- The Economist (US)
- Article date:
- August 31, 1991
CopyrightCOPYRIGHT 1991 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
BRIAN KENT, a specialist trader at the Pacific Stock Exchange's Los Angeles floor, was particularly relieved by the New York Stock Exchange's recent decision to continue opening its market only at 9.30am. Mr Kent, who lives in Ventura, already gets up at 3.30am in order to be ready for the NYSE'S opening, and New York had planned to open half an hour earlier to attract business from the London Stock Exchange. But a revolt organised by Pacific stockbrokers and investors forced it into an embarrassing climbdown.
Trading times are one of the few ways for stock exchanges to distinguish themselves-particularly now that they face competition from cheap electronic ...