The PSE circular (PDF) outlined that the market would open at 9:30 am (just like it does now), break for an hour between noon and 1 pm, and then close at 3 pm. The current schedule starts at 9:30 am, and ends at 1:00 pm, with no breaks.
The new (old) schedule will begin on December 6.
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It was great while it lasted. Leave it to us degenerate traders to add two hours to the workday, but surrender half of that time to an institutional lunch break. As PH fintwit user @whenRMMtrades said, at least we can now eat lunch at noon.
That’s about the only silver lining in this announcement. I personally loved the compressed trading day; most of what was going to happen on any given day was basically over by 10:30am to 11:00am, and we only had to nervously refresh quotes for a couple of hours to finish the day.
Now it’s back to being stuck at a terminal through lunch and into the early afternoon, to monitor/defend positions for an extended window of vulnerability. I hope this isn’t just a cynical ploy to churn more transaction fees!
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