It probably just ruined the lives of a few hundred/thousand junior associates at the various banks across the country. Investment banking as a career is about to get a lot worse.
Right?? They must be confusing S&T with IB. Even S&T would likely not be significantly impacted because the bulge brackets already have large enough infrastructures to hire slightly bigger teams to monitor round the clock activity. Its smaller fundamental LO and L/S teams that would be kind of boned.
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u/MedicaidFraud brain freeze 25d ago
Extended hours trading already exists and I sleep during that. Big boys will still play during market hours. This changes nothing.