February 5, 2020 / 5:26 PM / 19 days ago

Euronext to consult on whether to cut trading day

LONDON, Feb 5 (Reuters) - Pan-European stock exchange Euronext said on Wednesday it would launch a public consultation next month on whether to shorten the trading day.

"In each of our six markets, we will not only consult our direct members, but also upstream buy side and retail associations and the operators of post trade processes, clearing and settlement," Euronext said in an emailed statement.

The "competitive positioning" of Europe will be a crucial component of whether to cut trading hours.

Euronext is "very sensitive" to the arguments around work-life balance in the City and the need to have greater participation of women in the industry, the exchange said.

Rival London Stock Exchange has just ended a public consultation on shortening trading hours, but has said that backing from other exchanges would be needed.

Banks and asset managers said in response to the LSE consultation that they would like a one-year trial of a 90-minute cut to the trading day on European exchanges.

Reporting by Huw Jones; editing by Carolyn Cohn

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