stockbroking question (1 Viewer)

[hussk]

hey guys,

i do have some interst in becoming a stockbroker but just wanted to know whether they are required to work 7 days a week, seeing how the asx operates 7 days a week.

thank you.

 

[geetarjoe]

Markets closed over the weekend. The market is in pre-open from 7am until 10am. Market closes around 4pm.

The futures exchange works around the clock with the foreign markets, as will Forex and commodity desks.

You may have to go into the office, but you won't be trading on a Saturday or Sunday. You will have to go in early before the market opens to put in orders for clients, and stay after the market closes.

Brokers and traders will usually work from 7am to 5pm/6pm five days a week.

 

[hussk]

thanks heaps it was really helpful

 

[redruM]

I'm a bit curious, what generally happens in the PRE_OPEN hours?

Also, why are there trades/"adjustments" made after the market has closed.

 

[geetarjoe]

I'm a bit curious, what generally happens in the PRE_OPEN hours?

Also, why are there trades/"adjustments" made after the market has closed.

Usually during pre-open brokers will start putting orders in the system. The orders aren't traded until the market opens, but the opening price is affected by the orders in the queue. The orders are executed in order of price and time. A higher bid will get priority over a lower bid.

Adjustments are done after the market close because thats when people have time to do it. You can't make any new trades during the adjustment period, only adjust or cancel existing trades.

 

[Rorix]

Markets closed over the weekend. The market is in pre-open from 7am until 10am. Market closes around 4pm.

The futures exchange works around the clock with the foreign markets, as will Forex and commodity desks.

You may have to go into the office, but you won't be trading on a Saturday or Sunday. You will have to go in early before the market opens to put in orders for clients, and stay after the market closes.

Brokers and traders will usually work from 7am to 5pm/6pm five days a week.

Brokers will usually have to pander to clients often during the week...not officially work but you still dont get to go home; this can run well into the night.