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It's just lunch, weary remisiers say

Brokers largely indifferent to return of lunch break next week, saying it won't lift their long-suffering business

Published Wed, Nov 8, 2017 · 09:50 PM
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Singapore

THEY clamoured for its return for six long years, but when the Singapore Exchange (SGX) finally gave traders their lunch break back, few celebrated.

From Nov 13, the Singapore stock market will take a mid-day break from noon to 1pm, a shorter pause than the previous 12.30pm to 2pm lunch interval which the SGX scrapped in 2011 to much acrimony from retail brokers.

Is it a case of a battle won too late? Old-timers in the equities broking business grouse that business today is poor, and they pin the blame on SGX for taking away the break in the first place.

"This is another U-turn by SGX. It should not have been taken away in the first place," said one remisier bitterly.

Another remisier, who has over 20 years of experience at Singapore's largest brokerage UOB Kay Hian, said: "I do my own trading, but clients' business has gone down a lot. So I jus…

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