Analysis: Could London's City boys start trading at 9am?

The LSE said in the consultation paper: “The key benefit from shorter exchange hours will be the opportunity it affords to firms to attract, accommodate and retain individuals whose personal circumstances require more flexible working hours.

“In addition to market structure and cultural issues, trading remains one of the areas of financial services where staff face significant mental health issues. We believe the excessively long hours play a major contributory part in generating and perpetuating this problem.”

One trader added: “It would be fantastic. The early hours do creep up on you."

Traders also rejected concerns that a shorter trading day would hurt liquidity in markets.

“Most respondents believe shorter hours would improve the velocity of trading and liquidity available on the order book,” the LSE said.

However the plans could yet hit the buffers as they would have to be in line with other bourses around Europe who are understood to not be so keen on the idea.

Euronext, which is conducting its own consultation on trading hours, is sceptical, while Deutsche Boerse is also thought to be lukewarm about the idea.

The London Stock Exchange will go back to market participants to see whether working from home since March due to coronavirus lockdowns has changed how they view trading hours. The exchange first launched a formal review of its opening hours in December last year.