Sunday, December 7, 2008

Tel Aviv Stock Exchange to Roll Back Hours

For all of you stock traders out there, pay attention. It appears that the Tel-Aviv Stock Exchange(TASE) is going to cut back trading hours. It appears that as a result of workers striking a few months ago, traders are able to accomplish the same amount of work in a much shorter day. My hunch tells me that most workers, whether they work in finance or not, could accomplish a full day's work in about 1/2 the time.

According to a report in Globes: "Shorter trading days in March and April, which resulted from a labor dispute, showed that trading volume did not fall despite the shorter hours. As a result TASE CEO Ester Levanon appointed a committee to examine the issue. Levanon said, "A review by the committee showed that most stock exchange members support a shorter day, and see it resulting in lower costs and employee satisfaction. Exchange members do not expect a drop in trading volume, nor of foreign investor activity."

I guess something good actually came out of a labor dispute!

Trading in Tel- Aviv will start at 9:00 am instead of 8:30 am, and will end at 4:00 pm. Welcome back 'Bankers hours!'

1 comment:

book club addict said...

the lack of ambition in this decision is striking. they are basically saying, we are making enough money, now we will just do it in less time.
what they should have learned was how much more money they *can* make. the way to go would be to have the same number of hours [at least, given the newly discovered higher rate of return per hour] and more productivity.