The push for a four-day workweek has gained traction throughout the coronavirus pandemic, even grabbing the attention of Congress, however a shorter workweek could also be tough to implement on Wall Avenue.
The finance sector has “all the time been a tradition of heavy hours and dealing lots,” mentioned Jason Snipe, founder and CIO of Odyssey Capital Advisors. “Now that we have been compelled to cease to a sure diploma and reorient ourselves due to the Covid setting, it has allowed us to reexamine what that tradition is.”
Proponents of a shorter workweek level to the harm overworking does to an individual’s bodily and psychological well being as a cause to shift to fewer hours.
James Angel, affiliate professor of finance at Georgetown College, mentioned he could be shocked if U.S. inventory exchanges shortened their buying and selling hours.
“If something we’d see longer buying and selling hours,” he mentioned. “Individuals commerce extra when the market is open, and the trade is aware of this. In order that they actually are going to be in no hurry to close down the money register.”
The inventory market does have a historical past of adjusting buying and selling hours. In 1952, the New York Inventory Change got rid of Saturday trading hours, and it added a half-hour to the buying and selling day within the Nineteen Eighties.
There could possibly be potential advantages to shortening hours, comparable to attracting extra various expertise to the trade.
“How can we make the enterprise extra enticing to ladies and different individuals who’ve beforehand been discriminated in opposition to within the trade?” Angel mentioned. “One of many issues floating round in Europe is the concept of shortening their buying and selling hours.”
Longer hours, however, could possibly be helpful to sure market members, comparable to West Coast buyers.
There are some regulatory caveats for exchanges trying to change their hours. If an trade wish to alter its buying and selling hours, it must first get approval from the Securities and Change Fee.
Nasdaq and the New York Inventory Change declined CNBC’s request for remark.
Watch the video above to seek out out extra concerning the prices and advantages of a four-day workweek on Wall Avenue.