Under the instructions of the securities and exchange board of India (SEBI), the two stock exchanges, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have decided to change the opening of the stock markets. The two stock exchanges will open at 9 am, instead of 9:45 am from 4th January, which will be the first trading day of the year 2010.

According to one of the market analyst, the two exchanges are still trying to work out a common decision. Their postponement of the date of early opening to two weeks can’t cool down the protests from the brokers.

The managing director of C Mehta Investment Intermediates Ltd, Ms Deena Mehta said that 89% brokers at BSE and 69% at NSE are not in the favor of the change.

The stock brokers are finding it difficult to cope up with the new change as they expect that this will cause in the increase in the amount of trading and consequently increase in their working hours, which will be quite difficult to manage.

The Head of Institutional Business at Emkay Global Financial Services, Mr. Ajay Parmar said, “Although the infrastructure and operating systems will eventually be in place, mentally brokers need to be prepared to change their work timings. The staff has to work extra hard now with the extension of timings. The back office also has to be realigned with new timings.”

The increase in the duration of the trading day is surely going to increase the work load on the employees, but there are no salary hikes to compensate the work load. The employees would have to work at the previous remunerations.

Moreover, the brokers have told that salary increase depends upon the increase in the volume of the trading, but the new timing is not expected to bring more business.