Call for cut in stock market trading hours to aid working parents

If the trading hours shift to 9-3.30, I guess the basic trades execution will need to be moved from 4… To possibly 3? Or having multiple different times for the different markets (which may be the case anyway as there are far east markets in the Roadmap).

Is it a good idea anyway to shorten trading hours? Cultural shifts, work patterns, international markets dynamics will change quite a lot I think.

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Not a fan of this personally, but I can see the rationale.

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I understand the sentiment but you may still have to start early and finish late. It’s a trading floor—been there, done that and don’t miss it.

Automation is a great risk for whatever is left of trading jobs. Maybe if you deal illiquid securities, such as junk bonds or obscure derivatives, you still have a chance.

Goldman Sachs is leading the trend—that bank always survives:

Goldman Sachs automated 99% of their equity trading jobs over the last 16 years but there is still 34% staffing with mostly computer engineers
(https://www.nextbigfuture.com/2017/02/goldman-sachs-automated-99-of-their.html)

Deutsche is out:

The German lender’s sweeping turnaround plan, including an exit from the equities sales and trading business, will slash Deutsche Bank’s workforce by about 18,000 employees globally. Workers from Sydney to London to New York received the details of their exit packages Monday – and were left pondering their next move.
(https://www.bloomberg.com/news/articles/2019-07-08/deutsche-bank-job-cuts-leave-thousands-chasing-limited-openings)

Matching buyers and sellers is a job of freetrade’s software and the likes, not humans. It’s 2019:

Machines will take care of the mundane
https://www.businessinsider.com/goldman-sachs-executive-on-technology-automation-wall-street-2018-12?r=US&IR=T

If you’re a trader or a long-term investor, wouldn’t you rather have a working day like this self-made billionaire who is still making money buying and selling equities:

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We are moving onto more oversight of automated process, with regular Audit and QA to make sure everything is working as expected.
Those that will be left behind from automation may have the infamous universal credit to look forward to unfortunately.

When I was at GS, we did work long hours, but there was definitely a drive from management to get us to have a more work life balance. I remember the induction there, where we were told to look either side to the people sitting next to us. They said that one of the 3 were going to get married to another GS employee because people worked long hours and would only have time to interact with each other.

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It’s the same with most careers now. I work in IT and back in the day you’d have sys admins manually checking servers and patching them etc.

If you don’t move in to or learn DevOps stuff for automation you’ll find yourself out of a job very quickly.

The purpose of dev ops almost seems to be to automate themselves, though.

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Lol yeah you definitely are right. It’s automating the jobs that they’d be doing anyway. But that offers them the ability to spend time focusing on other things that wouldn’t have been their problem back in the day.

Job roles nowadays have changed massively for sys admins, before it was server monitoring, building, upgrading etc. Now it’s basically everything and that wouldn’t be possible if it wasn’t for the help of automation. So in one way automation has made it difficult because you’re expected to have the time and resources now to know more and more which never used to be in your remit, but if you don’t keep up with it whilst others develop it, you’ll struggle to keep a job.

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Though machine learning is a subset of “AI” but I guess ZipRecruiter/Bloomberg were doing research based on keywords:

UBS used to run the world’s largest trading floor and one of my ex-colleagues used to go there:


Forget VBA. It’s Python:

https://www.bloomberg.com/news/articles/2018-06-14/citi-wants-analysts-to-add-python-to-list-of-languages-on-resume