I've actually thought about moving because of this. Unfortunately, there aren't many civilized places between Signapore and Europe without a bunch of people who like to kill Americans or rob relatively wealthy ones. I would prefer a 7:00 pm start and 2:00 am close.
it saves alot of time when you actually do watch the programs. who trades at 4am EST? i am having a tough time waking up 6am PST as it is.
Extend it 4 more hours... so that we get the asian opens. Who cares about Europe. That place is asleep anyways. The real action (volume) is Asia.
Living in Vancouver, Canada, I have the same issues with the rest of West Coast America in trading the markets. I believe, however, that they aren't going to change the market times for the sake of West Coasties. The volume and hours of operation will always be dicated by the NYSE floor guys. Chicago even goes by EST.
well I think, alot of my conspirator trader friends say its about coercing alot of us west coasters back to east. Or its jeleousy. I know I wont trade one more share just because they extend the hours. LOL it just means I will be more tired, and have to take a nap after 2pm, wake up at 3pM lol. I heard its going tobe implemented next year.
Why are some of you acting like this is a foregone conclusion? The NYSE floated a trial balloon in January, and their brilliant idea was met with nothing but hostility from securities professionals. In 1991, NYSE chairman William Donaldson tried to advance the open by just half an hour. The idea was widely hated, and easily defeated back then. Hopefully history will repeat.
With the NYSE exchange becoming a for-profit enterprise, rather than a good-old-boys club, I would predict a lot more response to the pressure to close later. Hopefully it will get more responsive to its real "customers", and less responsive to a New York establishment that uses it as an exclusionary tool. I live on the east coast and so it's no sweat off my butt either way, but the NYSE is making less and less sense every year. In fact, I will give up .01 to make my trades of NYSE equities on an ECN. Execution speed and accuracy are more important to me. Also, I have been stuck more than once with an open NYSE order at closing, that the specialist can't be bothered to cancel. It really is aggravating to get stuck in an overnight position when you made a sell order at 3:58.
Anyond consider moving to Iceland to trade from there? I hear hot springs and hot blonde women abound plenty. but does anyone know if their broadband infrastructure is as good as US if not better?
Trade Japan. I don't find it that interesting, but if you are a night owl, it is open from 5pm - 11pm PST during spring/summer, and 4pm - 10pm PST during winter. They even close the market for lunch for an hour and a half.