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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Aquis Exchange PLC    AQX   GB00BD5JNK30

AQUIS EXCHANGE PLC

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London Stock Exchange finds broad backing for shorter trading day

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06/01/2020 | 09:21am EDT
FILE PHOTO: The London Stock Exchange offices in the City of London, Britain

By Huw Jones

There is broad backing in stock markets for cutting the trading day by 90 minutes in a coordinated way across European exchanges, the London Stock Exchange said on Monday.

The LSE published feedback from its public consultation on making trading hours more family-friendly to help recruit more women to trading desks and improve mental wellbeing.

"There was also widespread consensus from respondents that any change to trading hours would ideally require a broadly aligned approach across European exchanges and other trading venues," the LSE said in a statement.

"Without this harmonisation, the goals of improved diversity and wellbeing would be harder to achieve, given the pan-European nature of many trading roles in the financial industry."

Euronext is still conducting its own consultation on trading hours and has questioned the rationale of a "London proposal". Deutsche Boerse had no comment on Monday.

The current European trading day is 0800-1630 UK time, longer than in Asia or Wall Street, and most market participants preferred a 0900-1600 trading day, with a minority calling for no change, according to the LSE.

The stock exchange will go back to market participants to see whether working from home since March due to coronavirus lockdowns has changed how they view trading hours.

Keith Temperton, a sales trader at Tavira Securities, said that without real pre-market and after-hours trading like on Wall Street, cutting European hours would be a step backwards.

The Federation of European Securities Exchanges, which had no immediate comment, is asking members if there is support for cutting hours, though some are thought to be leery.

The LSE is not a member of FESE, and Britain's departure from the European Union could also make aligning a cut in hours more difficult.

The LSE said it would scrap intraday auctions after most respondents found they don't attract a broad range of liquidity.

(Additional reporting by Thyagaraju Adinarayan; Editing by Mark Heinrich)

Stocks mentioned in the article
ChangeLast1st jan.
AQUIS EXCHANGE PLC 0.00% 358 Delayed Quote.-10.95%
BOLSAS Y MERCADOS ESPAÑOLES, SOCIEDAD HOLDING DE MERCADOS Y SISTEMAS FINANCIEROS, S.A. -0.12% 32.94 End-of-day quote.-4.19%
CHANGE INC. 3.17% 8140 End-of-day quote.179.92%
DEUTSCHE BÖRSE AG 0.48% 166.1 Delayed Quote.18.52%
EURONEXT N.V. -1.40% 91.5 Real-time Quote.25.95%
LONDON STOCK EXCHANGE PLC -0.88% 8352 Delayed Quote.7.77%
MEMBERS CO., LTD. -2.09% 1358 End-of-day quote.-40.36%
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Financials
Sales 2020 11,2 M 14,2 M 14,2 M
Net income 2020 - - -
Net cash 2020 7,30 M 9,21 M 9,21 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 97,3 M 123 M 123 M
EV / Sales 2019
EV / Sales 2020 8,02x
Nbr of Employees 37
Free-Float 51,7%
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Mean consensus BUY
Number of Analysts 1
Average target price 606,00 GBX
Last Close Price 358,00 GBX
Spread / Highest target 69,3%
Spread / Average Target 69,3%
Spread / Lowest Target 69,3%
Managers
NameTitle
Alasdair Frederick Seton Haynes Chief Executive Officer & Director
Nicola Jane Beattie Independent Non-executive Chairman
Jonathan Charles Clelland CFO, Chief Operating Officer, Secretary & Director
Paul Roberts Head-Information Technology Infrastructure
Richard E. T. Bennett Senior Independent Non-Executive Director
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