Dennise Williams, Staff ReporterTHE COUNCIL of the Jamaica Stock Exchange has increased, by one hour, the time available for trading on the stock exchange, effective Tuesday, February 1, 2005
The decision was made at the January 26 board meeting and comes against the background of increased trading activity and a demand for more time within which to execute trades.
The new trading will be:
Pre-open: 9 a.m. - 9:30 p.m. (During this period, the traders can enter orders, but no trades can be executed).
Market Opens 9:30 a.m.- 1 p.m.
Responding to the announcement, Christopher Chin Loy, investment advisor at Mayberry Investment says: "I welcome that. That is super. It is about time. There is enough depth in the market for us to even go to four o' clock.
ENVIRONMENT PRIMED
With interest rates going down and where the economy is going, the environment is primed for longer trading hours now. Right now, as it stands, we do not have hands to fill the number of orders coming in. Clients want their order filled immediately and they are frustrated if that does not happen. This is a wonderful step."
