(Adds comments, details)
By Faith Hung
TAIPEI Aug 22 The head of Japan Exchange Group
Inc (JPX) said on Friday that he favours longer trading
hours for the exchange and a decision on the long-debated issue
will be made this year.
JPX's current 5-hour trading day is the shortest among major
exchanges in the world.
"Big brokers like Nomura and Daiwa are very reluctant to
extend the trading hours because (it's) very expensive and they
are not confident (about) the volume," said Chief Executive
Officer Atsushi Saito.
"Net brokers use net trading systems. They don't have to pay
so much costs, so they are the leader of introduction of night-
time trading hours," he told reporters on the sidelines of a
business event in Taipei.
"They are fighting very bitterly, so it's very difficult for
me to make a decision. I'm waiting for it to cool down," said
the chief executive. "Any decision must be made this year."
JPX could try to set up a night session, which was
recommended by a JPX committee for discussion late last month.
That could attract some full-time workers who come home and
trade after dinner.
It also could extend the closing time from the current 3 pm,
overlapping more with other Asian market hours. Or it could
decide to keep current trading hours.
(Additional reporting by Emi Emoto in TOKYO; Editing by Kim