swedish traders asking nasdaq to trim trading hours for work life balance
In recent months, several Swedish traders have been calling Nasdaq, an American stock exchange based in New York City, to trim trading hours for better work-life balance.
The exchange in Stockholm, the capital of Sweden, has the world’s longest trading session. It opens at 9 am and closes at 5:30 pm. US stock market Nasdaq opens for pre-trading sessions from 4 am Eastern Time (ET) to 9:30 am Eastern Time (ET).
The trading session starts from 9:30 am to 4 pm (ET). The after-trading session starts from 4 pm to 8 pm (ET).
Elisabeth Beskow, the Swedish head of Norwegian lender DNB Bank ASA, told Bloomberg, “I’ve never heard such a cohesive majority being positive about the idea of shorter hours than for the past year.”
Nasdaq Stockholm, the largest stock exchange among Nasdaq’s European stock exchanges, is facing calls from Swedish traders to trim trading hours for improved work-life balance and to attract new talent.
Finance professionals said that the mothers working in equities are the worst-hit by the long trading hours. They are unable to achieve work-life balance.
Per Flostrand, the head of equity sales at Nordic investment bank ABG Sundal Collier, said that work-life balance was important for finance professionals.
It is important to note that the working day starts at 7:25 a.m. and ends at 5:40 p.m. at ABG Sundal Collier’s trading desk.
Sweden offers Fika, 4-week off, wellness allowance, and zero overtime to employees. Several employers offer their employees a “wellness allowance” to spend on pre-approved wellbeing-based activities. Employees in Sweden are also offered weekly friskvårdstimme or “wellness hour” to look after their wellbeing during paid working hours.
Fika (coffee) break is popular among employees in Sweden. It involves stepping away from your desk to grab a cup of coffee and chat with colleagues. Employees in Sweden also get holiday allowances and bonuses.
What do you think about Sweden’s work culture? Share your answer in the comment section below.
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