LONDON, July 31 (Reuters) - The London Stock Exchange
indicated on Friday it was in no rush to shorten its trading
day, after its European rivals said they opposed reducing hours.
The LSE held a public consultation earlier this year on
shortening the trading day by 90 minutes, a family-friendly step
asset managers and banks have called for to attract more women
to trading desks and improve mental wellbeing generally.
The exchange said in June that its consultation showed
widespread backing for shorter hours if part of a broadly
aligned approach across Europe.
But the Federation of European Securities Exchanges (FESE),
which represents continental bourses, has spoken against shorter
hours, saying there are other ways of achieving a better
life/work balance for staff.
FESE member Euronext also told the Financial Times this week
it would not be cutting its trading day, saying there was no
consensus among its customers.
"We think it would be most sensible if there was a concerted
action across Europe, given that most market participants in
Europe have a single trading desk for European trading," LSE
Chief Executive David Schwimmer told reporters.
"We will of course take that into account as we continue our
consultation."
Exchanges are focusing on keeping markets running smoothly,
as most of their staff have been working from home since
lockdowns were introduced to fight the COVID-19 pandemic.
Schwimmer said there will be a phased return of up to 30% of
employees to the office by the end of the year as requirements
for workers to maintain social distance remain in place.
(Reporting by Huw Jones; Editing by Jan Harvey)
