10/21/2010
The Stock Exchange should go 24 hrs
SGX is still pushing for continuous trading with no lunch break to improve trading volume and to capitalise on the connectivity with other operating exchanges. Though the idea is good, it is half hearted. SGX should go all the way, provide continuous trading round the clock. This will make SGX the only stock exchange that never sleeps and investors who have insomnia or in different time zones can always call our exchange to trade till their hearts contend. This will definitely generate all the volumes that SGX intended and even propel SGX to become the world's number One stock exchange. It will be another feather in our hat.
There should be no problems with our pool of remisiers and broking house employees. They will welcome such a great idea with glee. Plentiful of money to be made. The broking houses can help by redesigning the trading area with beds attached to the terminals so that remisiers can literally trade, eat and sleep in the same place. I would suggest something similar to the SQ jumbo airbus first class seat cum bed. That would allay any protest from the remisiers. Just make them comfortable and happy.
Anyway the remisiers are very pliable and adaptable bunch and would just adapt to the new demands. They don't have a troublesome union to fight for humanly working hours or other craps that make operating the business difficult.
There will be fatigue and stress problems no doubt. Just provide more steriod jabs in case they need them. And if they make mistakes, the stock exchange should be generous enough to pay for their errors. Working in a highly stress environment, none stop for 8 to 10 hours, can be killing and mistakes are bound to happen. And working 24 hours is a new ball game. No joke. If the maids can cope with working for 24 hours without any problems, I think remisiers too should be able to do it equally well.
Take this as an experiment and if it works well, other industries too can go on 24 hours non stop operations. Our Ministries and Ministers too can work 24 hours to increase their productivity.
24 hours is the way to go. Make Singapore a city that never sleeps.
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12 comments:
I think it is a great idea, but as far as decisions go, the "profit and loss" signal will tell the decision maker if he is "correct" or not.
If the SGX can make a profit by staying open 24hrs, go for it. They shouldn't be "prevented" from doing so.
I don't shed crocodile tears for remisers or anyone working in the capitalist system. Everyone from CEO to street-hooker faces challenges when it comes to making money by working for it through (honest?) private enterprise.
Only people in govt are allowed to earn big bucks for doing absolute fuck-all, or for creating colossal fuck-ups. The rest of us working serfs just have to work hard so we can pay the tribute (extortion) to the govt crooks and clown circus.
If they do go 24 hrs. I welcome the move because the trades I do require no human intervention.
Click of the mouse and it's done!
Frankly, I don't understand why people still need someone to put their trades through in this day and age.
I've said this before but I still stand by the notion that there is very very little that broking house dealers or remisiers can tell me that I don't already know.
Some of them are really really blur leh.
Hehe.
Exactly. Here in Oz the ASX runs an annual trading game; one for adults and another for kids.
And the kids do fantastic! The days of the full-service broker/ remiser are numbered ever since one-click electronic trading/ market info and research came into being.
For fucks sake, many online trades are made on mobile phones now -- small devices mot people carry on their person 24/7/365.
For the time being, not everyone is internet savvy. Other than the convenience of a call, remisiers also play a vital role that banks and broking houses will not want to do, ie, provide credit to clients.
The multiplier effect helps to increase the mkt volume. Otherwise our small investor pool will make our market as big as a kampong pasar. Can forget about becoming a big international exchange.
What cock are you talking lah? for a relatively small country the S'pore bourse has plenty to crow about -- less regulated than the bourses in western democratic-welfare states, dark pools, unrestrained hedge-fund action, and now 24 trading so that anyone, anytime of day can meet his local Ah Loong, borrow the money to punt on the latest GLC IPO and make a shit-load of money so he can "blaja" his "kakis" a rocking fun time with all those nubile, willing foreign chicks at the karaoke.
SGX - world-class lah!
Hehe,
That's me!
Mr. Bean,
I don't know to what extent a remisier would want to extend credit to his clients but in today's world, it is foolhardy to do so to say the least.
Putting your money at risk to make that one or two percent broking commission is to my mind not that astute.
The days of remisiers are truly numbered.
10 years ago, some wise men thought they could get rid of remisiers and did many things towards that direction. Today, every broking house is recruiting and the SGX is talking about adding another 2000 remisiers to increase liquidity.
Leave it to the wise men, there would be no remisiers left and our stock market will be no bigger than one in Africa.
The firms may be recruiting but who is joining?
Most would prefer to do property now that life insurance is already dead.
The thought of having to put down a hefty deposit and or a bank guarantee as surety for the default of their clients to the broking houses make most shy away from this hazardous business.
Millionaire remisiers?
"Those were the days my friend........"
Nah, I wouldn't want any of my sons to get into this business not that they are interested in the first place. Fathers and sons think alike.
Hehe.
It is no longer the business it used to be. It is only good for semi retirees. It has been destroyed, just like conveyancing. The next will be housing agent and insurance agent.
The hidden agenda was to get rid of all agents and sub agents in the industries...and force them to become taxi drivers or petrol pump attendance.
Most businesses acting as middlemen will definitely be gone in time to come.
Technology and a more savvy consumer public is going to sound the death knell for these businesses.
Now, even the stereotypical matchmakers are gone. Everyone is taking to the internet networking to find whatever they want.
Soon we will have millionaire taxi drivers and gas station pump attendants. What a super first world country ! Incredible and amazing, isn't it ?
24 hrs to make money, too tough and tiring. 08 hrs pay too low, 12 hrs pay too low and no family time and personal leisure. Nothing right in Sin, how the hell to live meaningfully!
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