Do you think NYSE/nasdaq proposed 2 hour extension is dumb or smart?

What do you think of the new 8:30 am open and 5pm close proposal?

  • Its dumb!

    Votes: 51 50.5%

  • Smart move!

    Votes: 26 25.7%

  • Just leave it be?

    Votes: 24 23.8%
  • Total voters
    101
Two major negatives are lower volatility due to the same amount of volume spread out more. And higher costs for BD`s which will end the race to 0 commish game. In the form of longer work hours for techs, back office, operations, compliance..etc.

The NYSE was proposing earlier hours to garner more of ARCA`s pre and post activity. Now that they are one entity WTF does Thains want to extend "official" hours??? Its perplexing. NYX can still have pre and post activity offered through its 100% electronic system and then opening/closing auction through the spec.
 
I wouldn't mind if they opened earlier to compete for European business. However, to stay open later is nonsense. There is no competing bourse open after Europe closes (Mexico and Canada.. big deal). The NYSE should consider closing at 2:00 PM regardless of what they do about opening time. Even better... do like the Japanese.... Have both a morning and afternoon session with a siesta between.:D
 
Quote from mahram:

I was wondering what you guys think of the nyse proposed 2 hour extension. 1hour earlier in the morning and 1 hour later in trading. Its been talked about for months, but nothing would have happened till the nyse went public. There were people who thought the nyse would never go electronic, or that it would take years, but they are finally going electronic. So what do you think of the new 8:30 am opening, and new 5pm close.
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is ist already sure that it's going to be this way? when will it start?
 
I would figure an 8:30 open would create more havoc since econ numbers tend to come out at 8:30. How can a specialist maintain orderly flow when index futures are so volatile exactly at 8:30. Something tells me there will be numerous delayed openings with the specialist taking advantage of the situation.

If anything the NYSE should open at 8:20 or leave it at 9:30.
 
yes... market needs to open another 5 hours at least so we can dampen the volatility even more.....


I love 5 min program trade on the open followed by 5 hours of sideways... followed by 5 min eod trading program...

this market rocks!!

power sideways!!
 
95-2000 was a diffrent time. LOL everything moved in huge ways back then. Do you mean 2 hour early open, or 2 hour later close, or 1 hour early and 1 hour later?

Quote from Dustin:

Funny you say that. I traded afterhours all the time in '98 when it was actually worth it. Stocks gapped 5-10-20 points on news halts all the time...now you are all fighting for 50 cents.

BTW count me in for a west coast trader who's for the 2 hour extension. More time to trade = more time to make money.
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what is this going to cost brokers, like IB. Will they have to upgrade their API again, to handle the new openings.

Quote from EqtTrdr:

yes... market needs to open another 5 hours at least so we can dampen the volatility even more.....


I love 5 min program trade on the open followed by 5 hours of sideways... followed by 5 min eod trading program...

this market rocks!!

power sideways!!
More...
 
Quote from mahram:

95-2000 was a diffrent time. LOL everything moved in huge ways back then. Do you mean 2 hour early open, or 2 hour later close, or 1 hour early and 1 hour later?
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I would be OK with any extension.
 
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