City traders call for shorter working day in bid to improve diversity and mental health.

City traders have called for a shorter working day in a bid to attract more women and working parents into a profession with a reputation for long hours and a male-dominated culture.

Two lobbying groups wrote to stock exchanges across Europe calling for the current 8am-4:30pm day to be cut to 9am-4pm.

A 90-minute reduction in hours would create “more efficient markets” as well as increase diversity and wellbeing, the Investment Association and Association for Financial Markets in Europe said.

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Traders are often expected to begin work long before the markets open and a culture of long hours under stressful conditions has been found to negatively affect mental health and deter those with families or other caring commitments.

The London Stock Exchange said it would consider the proposals.

UK news in pictures

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14 November 2019
13 November 2019
12 November 2019
11 November 2019

UK news in pictures

14 November 2019

1/50 14 November 2019

Spanning all four spaces and the corridor of the White Cube Bermondsey gallery Anselm Kiefer's new exhibition encompasses large-scale painting and installation

Rex Features

13 November 2019

2/50 13 November 2019

Labour leader Jeremy Corbyn wears a pair of mittens that say 'Pick Pam', referring to Labour MP Pam Duncan-Glancy (not pictured) as he visits the Heart of Scotstoun Community Centre in Glasgow

Getty

12 November 2019

3/50 12 November 2019

Head glass conservator Sam Kelly inspects the Angeli Laudantes and Angeli Ministrantes stained glass windows at Salisbury Cathedral as restoration work to clean, conserve and restore the windows, installed in 1879, gets underway

PA

11 November 2019

4/50 11 November 2019

Flooding in the village of Fishlake near Doncaster after a month's worth of rain fell in 24 hours

PA

10 November 2019

5/50 10 November 2019

World War II Supermarine Spitfire fighter performs a flyover over White Cliffs of Dover during Remembrance Sunday celebrations

Reuters

9 November 2019

6/50 9 November 2019

Snow falling in Glyn Ceiriog near Llangollen in Denbighshire

Steffan Williams/PA

8 November 2019

7/50 8 November 2019

Scottish National Party candidates, including SNP Westminster leader Ian Blackford (centre left) and Nicola Sturgeon (centre), with a Brexit message at the party's General Election campaign launch in Edinburgh

PA

7 November 2019

8/50 7 November 2019

Delivery lorry stuck in flood water at Coston Ford, Leicestershire after heavy rainfall in the area

PA

6 November 2019

9/50 6 November 2019

British Prime Minister Boris Johnson makes a statement to announce the general election at Downing Street in London, Britain

Reuters

5 November 2019

10/50 5 November 2019

Liberal Democrat leader Jo Swinson speaking at the launch of their general election campaign at the Institute of Civil Engineers in London

PA

4 November 2019

11/50 4 November 2019

Pelicans in St James's Park in central London

AFP/Getty

3 November 2019

12/50 3 November 2019

Dancers perform a mass Ghoomar dance during Diwali celebrations in Trafalgar Square, London

Reuters

2 November 2019

13/50 2 November 2019

Campaigners listen as SNP leader Nicola Sturgeon addresses a rally calling for Scottish independence in Glasgow

AFP via Getty

1 November 2019

14/50 1 November 2019

Police and recovery workers remove a damaged bus from the scene of a crash in Sevenoaks Road, south-east London. A man has been arrested on suspicion of causing death by dangerous driving after a person died and 15 others were injured

PA

31 October 2019

15/50 31 October 2019

Labour Party leader Jeremy Corbyn gestures as launches the party's election campaign in south London. Britain will go to the polls on December 12

AFP via Getty

30 October 2019

16/50 30 October 2019

SNP leader Nicola Sturgeon joins Alyn Smith, the SNP's candidate for Stirling, at the Made in Stirling Store and Creative Hub, during the general election campaign trail

PA

29 October 2019

17/50 29 October 2019

A 1264 locomotive travels through an autumn scene along the North York Moors National Park

PA

28 October 2019

18/50 28 October 2019

Paul Hayes of Lower Lydbrook ferries children to dry land after the River Wye burst its banks flooding the Gloucestershire village

PA

27 October 2019

19/50 27 October 2019

Cosplayers during the third day of London's Comic Con

PA

26 October 2019

20/50 26 October 2019

England fans celebrate after their side beat New Zealand in the Rugby World Cup semi-final match in Japan. Eddie Jones’s side won 19-7

PA

25 October 2019

21/50 25 October 2019

Meerkats at Blair Drummond Safari Park, Stirling, investigate a carved pumpkin as the park celebrates national pumpkin day on Saturday October 26.

PA

24 October 2019

22/50 24 October 2019

A giant inflatable monster, created by artists Filthy Luker and Pedro Estrellas, is unveiled in Manchester ahead of the city's annual halloween celebrations

PA

23 October 2019

23/50 23 October 2019

Thirty-nine bodies have been found in a lorry container in Essex, police have said. The discovery of 38 adults and one teenager was made at an industrial estate in Thurrock. Police said they believed the lorry had come from Bulgaria and entered the UK at Holyhead, in Wales, on Saturday. Essex Police said it had launched a murder investigation after its officers were called to Waterglade Industrial Park, in Grays, in the early hours of Wednesday morning. A 25-year-old-man from Northern Ireland has been arrested on suspicion of murder

PA

22 October 2019

24/50 22 October 2019

Ships out at sea before the sun rises off the coast of Whitley Bay, Northumberland

PA

21 October 2019

25/50 21 October 2019

Hundreds of students take part in the traditional Raisin Monday foam fight on St Salvator's Lower College Lawn at the University of St Andrews in Fife. The messy display is the culmination of a weekend of festivities where first years say thank you to their more senior student "parents" for mentoring them

PA

20 October 2019

26/50 20 October 2019

Wales players celebrate after beating France in their Rugby World Cup quarter-final in Japan. Warren Gatland’s side had to battle after France’s fast start but capitalised on their rivals’ ill discipline to squeeze into the semi-finals, 20-19

Reuters

19 October 2019

27/50 19 October 2019

People gather in London to join the Final Say march for a people's vote

Angela Christofilou/The Independent

18 October 2019

28/50 18 October 2019

Protesters on Whitehall in London during an Extinction Rebellion climate change protest

PA

17 October 2019

29/50 17 October 2019

European Commission President Jean-Claude Juncker and Britain's Prime Minister Boris Johnson shake hands during a news conference after agreeing on a Brexit deal, in Brussels

Reuters

16 October 2019

30/50 16 October 2019

A man walks his dog through the fallen leaves in Clarkes Gardens, Allerton in Liverpool

PA

15 October 2019

31/50 15 October 2019

Police officers carry away an activist as Extinction Rebellion protesters block a road with a caravan in central London

Reuters

14 October 2019

32/50 14 October 2019

Queen Elizabeth II sits with Prince Charles on the Sovereign's throne ahead of delivering the Queen's Speech at the State Opening of Parliament

AFP

13 October 2019

33/50 13 October 2019

Great Britain's Joe Fraser competes on Parallel Bars during the World Gymnastics Championships in Stuttgart, Germany. He claimed GB's second gold with his victory. The 20-year-old from Birmingham nailed his routine to score 15.0 then watched as a series of rivals failed to live up to his total

Getty

12 October 2019

34/50 12 October 2019

St Helens players celebrate with the trophy after they won the Super League Grand Final at Old Trafford in Manchester. They beat Salford Red Devils 23-6

PA

11 October 2019

35/50 11 October 2019

Richard Ratcliffe, husband of British-Iranian aid worker Nazanin Zaghari-Ratcliffe jailed in Tehran since 2016, holds his daughter Gabriella during a news conference in London. Their five-year-old daughter has arrived back in Britain, after making the "bittersweet" decision to bring her home

AFP/Getty

10 October 2019

36/50 10 October 2019

Irish Prime Minister Leo Varadkar and British Prime Minister Boris Johnson at Thornton Manor. Their meeting focused on further Brexit proposals

EPA/Noel Mullen

9 October 2019

37/50 9 October 2019

Wales survived an almighty scare against Fiji to secure quarter-final spot at the rugby world cup. Warren Gatland’s side recovered from a 10-0 deficit thanks to a hat-trick from Josh Adams

AFP/Getty

8 October 2019

38/50 8 October 2019

Protesters dubbed the Red Rebels at Millbank at the junction with Great College Street, during an Extinction Rebellion protest in Westminster

PA

7 October 2019

39/50 7 October 2019

Final preparations are made in front of a reproduction of Michelangelo's 'The Last Judgement', ahead of the opening of for the 'Michelangelo: A Different View' exhibition at Hull Minister

PA

6 October 2019

40/50 6 October 2019

A car drives through a flooded street in Whitley Bay in Northumberland

PA

5 October 2019

41/50 5 October 2019

Thousands took to the streets of Edinburgh today to march in support of a second Scottish independence referendum

EPA

4 October 2019

42/50 4 October 2019

A 12ft sculpture of a gorilla, entitled 'Gorilla Apocalypse', created by Luke Kite entirely from scrap car bumpers and panels discarded in the last decade is on display at the British Ironwork Centre in Oswestry, Shropshire

PA

3 October 2019

43/50 3 October 2019

Police stands in front of the Treasury building during an Extinction Rebellion protest in London

Reuters

2 October 2019

44/50 2 October 2019

Ex-Thomas Cook employees demonstrate in London after delivering a petition calling for a full inquiry into Thomas Cook's collapse and for the company's directors to pay back their bonuses

AFP/Getty

1 October 2019

45/50 1 October 2019

A road in Alum Rock, Birmingham is flooded after persistent heavy rain

PA

30 September 2019

46/50 30 September 2019

Two tourists pose for pictures in front of Union and EU flags outside the Houses of Parliament in London

PA

29 September 2019

47/50 29 September 2019

A sheep on London Bridge as Freemen of the City of London took up their historic entitlement to drive sheep over the bridge, which was once London's only river crossing

PA

28 September 2019

48/50 28 September 2019

An Aldabra giant tortoise is fed watermelon as a treat at the Malvern Autumn Show, at the Three Counties Showground near Malvern in Worcestershire

PA

27 September 2019

49/50 27 September 2019

Gallery assistants pose with an artwork entitled 'Devolved Parliament' by British artist Banksy, during a press view in London ahead of Sotheby's contemporary art sale, as part of the Frieze Art Fair

AFP/Getty

26 September 2019

50/50 26 September 2019

England's Jonathan Joseph is tackled by United State's Marcel Brache during their group match at the Rugby World Cup in Japan. England scored seven tries on their way to winning 45-7

Reuters

14 November 2019

1/50 14 November 2019

Spanning all four spaces and the corridor of the White Cube Bermondsey gallery Anselm Kiefer's new exhibition encompasses large-scale painting and installation

Rex Features

13 November 2019

2/50 13 November 2019

Labour leader Jeremy Corbyn wears a pair of mittens that say 'Pick Pam', referring to Labour MP Pam Duncan-Glancy (not pictured) as he visits the Heart of Scotstoun Community Centre in Glasgow

Getty

12 November 2019

3/50 12 November 2019

Head glass conservator Sam Kelly inspects the Angeli Laudantes and Angeli Ministrantes stained glass windows at Salisbury Cathedral as restoration work to clean, conserve and restore the windows, installed in 1879, gets underway

PA

11 November 2019

4/50 11 November 2019

Flooding in the village of Fishlake near Doncaster after a month's worth of rain fell in 24 hours

PA

10 November 2019

5/50 10 November 2019

World War II Supermarine Spitfire fighter performs a flyover over White Cliffs of Dover during Remembrance Sunday celebrations

Reuters

9 November 2019

6/50 9 November 2019

Snow falling in Glyn Ceiriog near Llangollen in Denbighshire

Steffan Williams/PA

8 November 2019

7/50 8 November 2019

Scottish National Party candidates, including SNP Westminster leader Ian Blackford (centre left) and Nicola Sturgeon (centre), with a Brexit message at the party's General Election campaign launch in Edinburgh

PA

7 November 2019

8/50 7 November 2019

Delivery lorry stuck in flood water at Coston Ford, Leicestershire after heavy rainfall in the area

PA

6 November 2019

9/50 6 November 2019

British Prime Minister Boris Johnson makes a statement to announce the general election at Downing Street in London, Britain

Reuters

5 November 2019

10/50 5 November 2019

Liberal Democrat leader Jo Swinson speaking at the launch of their general election campaign at the Institute of Civil Engineers in London

PA

4 November 2019

11/50 4 November 2019

Pelicans in St James's Park in central London

AFP/Getty

3 November 2019

12/50 3 November 2019

Dancers perform a mass Ghoomar dance during Diwali celebrations in Trafalgar Square, London

Reuters

2 November 2019

13/50 2 November 2019

Campaigners listen as SNP leader Nicola Sturgeon addresses a rally calling for Scottish independence in Glasgow

AFP via Getty

1 November 2019

14/50 1 November 2019

Police and recovery workers remove a damaged bus from the scene of a crash in Sevenoaks Road, south-east London. A man has been arrested on suspicion of causing death by dangerous driving after a person died and 15 others were injured

PA

31 October 2019

15/50 31 October 2019

Labour Party leader Jeremy Corbyn gestures as launches the party's election campaign in south London. Britain will go to the polls on December 12

AFP via Getty

30 October 2019

16/50 30 October 2019

SNP leader Nicola Sturgeon joins Alyn Smith, the SNP's candidate for Stirling, at the Made in Stirling Store and Creative Hub, during the general election campaign trail

PA

29 October 2019

17/50 29 October 2019

A 1264 locomotive travels through an autumn scene along the North York Moors National Park

PA

28 October 2019

18/50 28 October 2019

Paul Hayes of Lower Lydbrook ferries children to dry land after the River Wye burst its banks flooding the Gloucestershire village

PA

27 October 2019

19/50 27 October 2019

Cosplayers during the third day of London's Comic Con

PA

26 October 2019

20/50 26 October 2019

England fans celebrate after their side beat New Zealand in the Rugby World Cup semi-final match in Japan. Eddie Jones’s side won 19-7

PA

25 October 2019

21/50 25 October 2019

Meerkats at Blair Drummond Safari Park, Stirling, investigate a carved pumpkin as the park celebrates national pumpkin day on Saturday October 26.

PA

24 October 2019

22/50 24 October 2019

A giant inflatable monster, created by artists Filthy Luker and Pedro Estrellas, is unveiled in Manchester ahead of the city's annual halloween celebrations

PA

23 October 2019

23/50 23 October 2019

Thirty-nine bodies have been found in a lorry container in Essex, police have said. The discovery of 38 adults and one teenager was made at an industrial estate in Thurrock. Police said they believed the lorry had come from Bulgaria and entered the UK at Holyhead, in Wales, on Saturday. Essex Police said it had launched a murder investigation after its officers were called to Waterglade Industrial Park, in Grays, in the early hours of Wednesday morning. A 25-year-old-man from Northern Ireland has been arrested on suspicion of murder

PA

22 October 2019

24/50 22 October 2019

Ships out at sea before the sun rises off the coast of Whitley Bay, Northumberland

PA

21 October 2019

25/50 21 October 2019

Hundreds of students take part in the traditional Raisin Monday foam fight on St Salvator's Lower College Lawn at the University of St Andrews in Fife. The messy display is the culmination of a weekend of festivities where first years say thank you to their more senior student "parents" for mentoring them

PA

20 October 2019

26/50 20 October 2019

Wales players celebrate after beating France in their Rugby World Cup quarter-final in Japan. Warren Gatland’s side had to battle after France’s fast start but capitalised on their rivals’ ill discipline to squeeze into the semi-finals, 20-19

Reuters

19 October 2019

27/50 19 October 2019

People gather in London to join the Final Say march for a people's vote

Angela Christofilou/The Independent

18 October 2019

28/50 18 October 2019

Protesters on Whitehall in London during an Extinction Rebellion climate change protest

PA

17 October 2019

29/50 17 October 2019

European Commission President Jean-Claude Juncker and Britain's Prime Minister Boris Johnson shake hands during a news conference after agreeing on a Brexit deal, in Brussels

Reuters

16 October 2019

30/50 16 October 2019

A man walks his dog through the fallen leaves in Clarkes Gardens, Allerton in Liverpool

PA

15 October 2019

31/50 15 October 2019

Police officers carry away an activist as Extinction Rebellion protesters block a road with a caravan in central London

Reuters

14 October 2019

32/50 14 October 2019

Queen Elizabeth II sits with Prince Charles on the Sovereign's throne ahead of delivering the Queen's Speech at the State Opening of Parliament

AFP

13 October 2019

33/50 13 October 2019

Great Britain's Joe Fraser competes on Parallel Bars during the World Gymnastics Championships in Stuttgart, Germany. He claimed GB's second gold with his victory. The 20-year-old from Birmingham nailed his routine to score 15.0 then watched as a series of rivals failed to live up to his total

Getty

12 October 2019

34/50 12 October 2019

St Helens players celebrate with the trophy after they won the Super League Grand Final at Old Trafford in Manchester. They beat Salford Red Devils 23-6

PA

11 October 2019

35/50 11 October 2019

Richard Ratcliffe, husband of British-Iranian aid worker Nazanin Zaghari-Ratcliffe jailed in Tehran since 2016, holds his daughter Gabriella during a news conference in London. Their five-year-old daughter has arrived back in Britain, after making the "bittersweet" decision to bring her home

AFP/Getty

10 October 2019

36/50 10 October 2019

Irish Prime Minister Leo Varadkar and British Prime Minister Boris Johnson at Thornton Manor. Their meeting focused on further Brexit proposals

EPA/Noel Mullen

9 October 2019

37/50 9 October 2019

Wales survived an almighty scare against Fiji to secure quarter-final spot at the rugby world cup. Warren Gatland’s side recovered from a 10-0 deficit thanks to a hat-trick from Josh Adams

AFP/Getty

8 October 2019

38/50 8 October 2019

Protesters dubbed the Red Rebels at Millbank at the junction with Great College Street, during an Extinction Rebellion protest in Westminster

PA

7 October 2019

39/50 7 October 2019

Final preparations are made in front of a reproduction of Michelangelo's 'The Last Judgement', ahead of the opening of for the 'Michelangelo: A Different View' exhibition at Hull Minister

PA

6 October 2019

40/50 6 October 2019

A car drives through a flooded street in Whitley Bay in Northumberland

PA

5 October 2019

41/50 5 October 2019

Thousands took to the streets of Edinburgh today to march in support of a second Scottish independence referendum

EPA

4 October 2019

42/50 4 October 2019

A 12ft sculpture of a gorilla, entitled 'Gorilla Apocalypse', created by Luke Kite entirely from scrap car bumpers and panels discarded in the last decade is on display at the British Ironwork Centre in Oswestry, Shropshire

PA

3 October 2019

43/50 3 October 2019

Police stands in front of the Treasury building during an Extinction Rebellion protest in London

Reuters

2 October 2019

44/50 2 October 2019

Ex-Thomas Cook employees demonstrate in London after delivering a petition calling for a full inquiry into Thomas Cook's collapse and for the company's directors to pay back their bonuses

AFP/Getty

1 October 2019

45/50 1 October 2019

A road in Alum Rock, Birmingham is flooded after persistent heavy rain

PA

30 September 2019

46/50 30 September 2019

Two tourists pose for pictures in front of Union and EU flags outside the Houses of Parliament in London

PA

29 September 2019

47/50 29 September 2019

A sheep on London Bridge as Freemen of the City of London took up their historic entitlement to drive sheep over the bridge, which was once London's only river crossing

PA

28 September 2019

48/50 28 September 2019

An Aldabra giant tortoise is fed watermelon as a treat at the Malvern Autumn Show, at the Three Counties Showground near Malvern in Worcestershire

PA

27 September 2019

49/50 27 September 2019

Gallery assistants pose with an artwork entitled 'Devolved Parliament' by British artist Banksy, during a press view in London ahead of Sotheby's contemporary art sale, as part of the Frieze Art Fair

AFP/Getty

26 September 2019

50/50 26 September 2019

England's Jonathan Joseph is tackled by United State's Marcel Brache during their group match at the Rugby World Cup in Japan. England scored seven tries on their way to winning 45-7

Reuters

Slashing hours would bring European exchanges closer to those in Asia and the US which are open for six hours and six and a half hours respectively.

Galina Dimitrova, a director at the Investment Association, said she had heard many moving stories of traders’ mental health and personal life being affected by their working hours.

“From boardrooms to trading floors, we need to improve the ways our businesses work to create more inclusive environments where all employees can thrive,” she said.

“Shortening trading hours, enabling a better work-life balance could bring significant benefits to City workers and firms, who will be able to attract a broader diversity of talent.”

Last month the Financial Conduct Authority said that “rhetoric” was masking a lack of real progress on increasing the number of women in senior roles at financial services firms.

Just 17 per cent of people in so-called approved persons roles are women, almost unchanged since 2005.

The lobby groups also say that shortening hours will make markets work better.

More than a third of trading takes place in the last hour of each day while the first hour tends to be quiet. There are fewer buyers and sellers in the first hour, which means it takes longer and is more expensive to match them up and make trades.

Compressing the day would therefore be beneficial, traders say, because buyers and sellers would be forced to do business in a smaller window, meaning the same amount of business would be carried out in a smaller amount of time.

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