Further to my earlier post on this subject, I have now drafted a response, on behalf of ShareSoc, which you can download here: Response to LSE Consultation on Market Structure and Trading Hours N18 – redacted. This is a draft, still subject to change.
Please let us know if you have any comments on this draft.
The majority view that we have received in feedback, is that a reduction in market hours would be welcome, as it could help to concentrate liquidity, leading to tighter spreads, as well as improving the lifestyle and reducing stress for market participants. There has been some dissent, with a small number favouring retention or even extension of current market hours.
Much of our response is based on an earlier response by ShareSoc member Michael Taylor, to whom we are grateful. Michael’s response has been published in the form of a change.org petition, which you can find here: https://www.change.org/p/london-stock-exchange-shorten-trading-hours-on-the-london-stock-exchange. As Michael’s response is broadly aligned with ours (though with some minor differences), ShareSoc encourages you to sign the petition, if you agree with it, to provide an indication of support that can be demonstrated to the LSE.
Mark Bentley, Director, ShareSoc