Stock exchanges to trade for longer hours | business | Hindustan Times
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Stock exchanges to trade for longer hours

business Updated: Oct 25, 2009 23:11 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Stock exchanges are preparing to increase trading hours by two-and-a-half hours every day after the market regulator Securities and Exchange Board of India (SEBI) permitted them to set their trading hours between 9 a.m. and 5 p.m., but brokerage houses feel they will have to undergo adjustment pains in the short term.

SEBI on Friday came out with a circular to permit the stock exchanges to increase the trading hours. The exchanges have to also put in place risk management systems and infrastructure facilities commensurate with the trading hours.

The two major exchanges BSE and NSE welcomed the move. Experts say that it will probably be the only global market running for such long hours. The broking industry welcomed the move but there were a few murmurs of protest around the back-office operations that will get delayed as a result of late trading hours." It is a good move because as we globalise, a broader trading time would cover the most of the Asian and European markets leading to a curb in the off-shoring of the market," said Anup Bagchi, executive director, ICICI Securities.