Published: 26 May 1999 11:27 GMT
The New York Stock Exchange is to stay open in the evening due the demand from e-trading in stocks and shares, it was revealed this week.
The evening exchange could be launched as early as July, bringing plans forward by a year, according to reports in the Financial Times. The move has been forced by competition from rival electronic trading systems which will also stay open later.
Michael Fordham, director of business development at Cap Gemini, said the move was the inevitable result of consumer demand, with Internet trading running at around 40 per cent of total deals. Fordham predicted the UK will soon have to follow suit and keep its exchanges open later. "What happens over there [the US] will happen over here," he said.
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