The change doesn’t alter exchange hours, but it does shift when global liquidity overlaps. Asia-Pacific desks now see US cash trading start and finish an hour later on their clocks, which narrows the gap between the Wall Street close and the Asian open and changes when US-driven moves first reach Asian markets. For Europe, the London and New York overlap returns to its normal winter shape after a week in which the US was an hour closer than usual. The main operational risk is mis-timed orders, alerts and automated strategies set to local clocks, particularly around US data releases and the Sunday futures reopen.
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The exchanges haven’t moved an inch, but for anyone trading New York from Sydney, Tokyo or London, Wall Street just pushed its alarm clock back an hour.
Summary:
- The US and most of eastern Canada moved clocks back one hour on Sunday, November 1, ending daylight saving time
- Exchange hours are unchanged in local time, so the impact falls on traders outside North America
- The New York cash equity session, 0930 to 1600 US Eastern, now runs from 1430 to 2100 GMT, an hour later than before
- US economic data at 0830 ET now lands at 1330 GMT, and Fed decisions at 1400 ET at 1900 GMT
- With Australia on daylight time since October 4, Sydney is now 16 hours ahead of New York, the widest gap of the year
Traders outside North America need to adjust their schedules this week after the US and most of eastern Canada moved their clocks back one hour on Sunday, November 1, ending daylight saving time for the year.
Exchange hours have not changed in local terms. The New York Stock Exchange and Nasdaq still open at 0930 US Eastern and close at 1600 ET, and the Toronto Stock Exchange keeps the same hours. Because New York is now on Eastern Standard Time, five hours behind GMT, the cash session now runs from 1430 to 2100 GMT, an hour later than it did last week for anyone watching from London, Asia or Australia.
The shift carries through to the economic calendar. Most US data released at 0830 ET, including payrolls and inflation figures, now arrive at 1330 GMT, while Federal Reserve decisions at 1400 ET now land at 1900 GMT. CME Globex futures, which reopen at 1800 ET on Sunday and pause daily from 1700 to 1800 ET, now restart at 2300 GMT. The 1700 ET New York close that marks the turn of the FX trading day now falls at 2200 GMT.
The effect is largest for traders in the Asia-Pacific region. Australia’s eastern states moved to daylight saving on October 4, so Sydney and Melbourne are now 16 hours ahead of New York, the widest gap of the year. The US cash open now comes at 0130 Sydney time (ain’t that just peachy …) and close at 0800, while the weekly futures reopen arrives at 1000 on Monday morning. In Tokyo, which does not observe daylight saving, Wall Street now trades from 2330 to 0600, and in Singapore and Hong Kong from 2230 to 0500.
European traders already went through their own change. Most of Europe ended summer time on October 25, leaving a one-week window in which New York opened at 1330 in London. That window has now closed, and the London and New York overlap is back to its usual winter pattern.
There is also a new wrinkle in Canada. British Columbia, Alberta, Manitoba and the Northwest Territories did not move their clocks back this year after ending seasonal time changes, so some Canadian cities are now an hour out of step with their US neighbours. That has no effect on the Toronto and Montreal exchanges, as Ontario and Quebec followed the US change.
The next shift comes on March 14, 2027, when US clocks move forward again.
This article was written by Eamonn Sheridan at investinglive.com.