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[sharechat] ASX considers night trading (!?!?!?)

From:	"Oliver Shapleski" <oliver.shapleski@vuw.ac.nz>
Date:	Thu, 30 Mar 2000 13:20:15 +1200

Article from Trading Room I thought might interest some of you!!!

The popularity of online share trading may force the Australian Stock Exchange to give up its gentlemen's hours of trading of between 10am and 4pm by opening the exchange for an evening trading session.

The ASX is understood to be considering a proposal to open trading between 6pm and 9pm, and an alternative plan for trading of between 8pm and 10pm on top of the existing daily six-hour trading session.

The proposals come after research has shown that trading volumes pick up markedly during lunch time, a traditionally quiet time of the trading day, indicating that small investors are clicking on to their online brokers during their lunch hour to trade shares.

Brokers said that so far this month online brokers had accounted for 20 per cent of daily ASX turnover, which averages about $1.2 billion a day.

The other alternative to an evening trading session is that the ASX will extend trading hours to start at 8.30am and finish at 5.30pm.

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