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I invite your comments on the following:
1) We now have extended trading before and after the regular trading day
and as we migrate to 24 hours/day trading the Open and Close prices will
become less meaningful. How do we protect our trading systems from
obsolescence? Will EOD data analysis become a thing of the past?
2) Daily High and Low prices are now often exceeded during extended hours.
How will we be able to determine the true 24 hour daily highs/lows, and
what time zone will we use?
3) How long will it take for data venders to start offering 24-hour data?
4) How long will it take for software venders (MS, TS, etc.) to adjust to
the new data environment and adjust functions, indicators, systems, etc.?
Will all our software be worthless a few years from now?
5) How will we be able to compete with institutional traders who have
round-the-clock access to data?
6) Should we start to design systems for RT data now and circumvent the use
of the soon to be obsolete Open, Close, and perhaps High and Low prices as
we know them today? Would YOUR system work with 24 hour data?
7) What will the future data format be? Hourly? Six-Hourly? Or will
everything go 24 hour RT?
Well, I could go on ... I am a bit of a newcomer to all this but somebody,
somewhere, must have given thought to these pending problems - to me it
sounds like a Traders Y2K.
Your (MS Support included) comments are invited,
happy trading,
Herman.
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