IDM wants to shorten the session on the WSE to 16:15

Chamber of Brokerage Houses (IDM) submitted to the WSE Management Board a request to shorten the session to 16:15 urgent. In the opinion of the Chamber, such a change would contribute to improving the liquidity and profitability of brokerage houses, and should not affect the total turnover.

Trade only until 16:15

According to IDM, the shortened session is to bring only benefits in the form of reduced operating costs and increased liquidity during the session. In addition, the current epidemiological threat is a key aspect.

IDM is no exception. Similar conclusions have already been made in other European countries in recent months, including in Great Britain, where the Association of European Financial Markets (AFME) made such a request to the London Stock Exchange (LSE).

Shortening the session would mean that the trade would have taken "only" 7 hours and 15 minutes. For comparison, the main European dance floors are open 8,5 hours, and Asian and American 6-6,5 hours.

What would the session look like? After internal consultations of the Chamber's members, the following schedule was presented.

Stock market:

09:00 - 09:30 - Before opening
09:30 - Opening
09:30 - 16:00 - Session
16:00 - 16:10 - Before closing
16:10 - Closing
16:10 - 16:15 Extra time

Futures contracts:

09:00 - 09:15 - Before opening
09:15 - Opening
09:15 - 16:00 - Session
16:00 - 16:10 - Before closing
16:10 - Closing
16:10 - 16:15 - Extra time

The IDM statement reads:

"At the same time, due to the epidemiological threat in the country, companies, including brokerage houses, organize work remotely, and some employees are quarantined, which increases the risk of staff shortages and weakens the quality of services. Given the previous reasoning and the current state, we ask for urgent decision to shorten the session to 16:15 with immediate effect. In further steps, we reiterate our call for consultation with exchange members in order to ultimately determine the optimal duration of a trading session. "

At the moment, the position of GPW representatives is not yet known.