MANY remisiers are upset at the Singapore Exchange's (SGX) removal of the lunch break ("Restore lunch break to rebuild confidence in local bourse" by Mr Tng Kim Bock; Feb 12).
In this Internet age, many transactions are now done online, including banking and bookings for airline and cinema tickets.
Such online services allow transactions to be done round the clock. Intermediaries are not actually needed. There is no reason these online transactions need a lunch or dinner break. Computers do not need to eat. Likewise for the world of equities trading.
Most equities trading is now done online by the investors or traders themselves. In derivatives trading or foreign exchange trading, clients trade online without the need for registered representatives. Online equities trading does not need remisiers, except in occasional instances where a remisier's help is needed.
There are already many places where continuous trading is carried out.
In fact, the United States even has pre-market and post-market trading. SGX should eventually follow this route and allow pre- and post-market trading.
Remisiers, instead of lamenting the lack of a lunch break, should see the situation from the viewpoint of investors.
In the past, many investors were free only during lunch breaks, but they could not trade as the SGX was closed.
Now, they can trade during lunch, and they can do so themselves.
Also, when one is trading, say, Nikkei or Hang Seng Index covered warrants, with continuous trading on SGX, one can better manage and control one's positions. In the past, when the Tokyo and Hong Kong markets were trading, one could not do anything as the SGX was closed for lunch.
With continuous trading, overseas investors also have better access to our markets.
Remisiers can still have their lunch, but there is no need for trading to take a break. Continuous trading is here to stay.
Vincent Khoo Teng Lau
In this Internet age, many transactions are now done online, including banking and bookings for airline and cinema tickets.
Such online services allow transactions to be done round the clock. Intermediaries are not actually needed. There is no reason these online transactions need a lunch or dinner break. Computers do not need to eat. Likewise for the world of equities trading.
Most equities trading is now done online by the investors or traders themselves. In derivatives trading or foreign exchange trading, clients trade online without the need for registered representatives. Online equities trading does not need remisiers, except in occasional instances where a remisier's help is needed.
There are already many places where continuous trading is carried out.
In fact, the United States even has pre-market and post-market trading. SGX should eventually follow this route and allow pre- and post-market trading.
Remisiers, instead of lamenting the lack of a lunch break, should see the situation from the viewpoint of investors.
In the past, many investors were free only during lunch breaks, but they could not trade as the SGX was closed.
Now, they can trade during lunch, and they can do so themselves.
Also, when one is trading, say, Nikkei or Hang Seng Index covered warrants, with continuous trading on SGX, one can better manage and control one's positions. In the past, when the Tokyo and Hong Kong markets were trading, one could not do anything as the SGX was closed for lunch.
With continuous trading, overseas investors also have better access to our markets.
Remisiers can still have their lunch, but there is no need for trading to take a break. Continuous trading is here to stay.
Vincent Khoo Teng Lau
