Yes, that would be Chicago (CME) but I don’t think it works like that ? Point is, for IB all works the same as it for IG workED.
First a bit of theory to work out again (you and me and everybody who has something to contribute) – and it is something I wondered already for a very long time;
Let’s talk about our both time zones, which is Amsterdam / Berlin / Geneva. This means it is at the time of this writing 15:17 and 08:17 in Chicago. Btw it is 14:17 in London, which will appear crucial to the story of this thread. Now :
For us (the group I just mentioned) this means that at 00:00 Future markets reopen. Mind you, this is thus in our time. This is a kind of convenient because what is more nice than a day break at exactly 00:00. But this is coincidence …
So when my Nasdaq (IB) or US Tech 100 (IG) reopen, it is 00:00 for our group. It is 23:00 for those in the UK, but alas, they are used to that.
Thus mind you, the 00:00 does nothing special as such and most certainly it does not open markets anywhere. They do, however, because the PRT charts say so and it could be because PRT is France based and there too it is 00:00. Eh, they remapped the opening of markets to … well, our own time. 00:00 for our group, 23:00 for the UK. Of this re-opening moment many more exist. For Turkey, for Greece, for Russia, for HK, for India. Let’s say I learned them by heart because I personally work in my own time (you ??) and this is 15:17 for me at the moment minutes ago.
Do you really want me to have different times in charts for each country I run an instrument in ? Come on … You could claim that my program code never needs to be adapted, but this is not how it it works. Not at all …
My program code “knows” that if European markets open at 09:00, the USA futures will jump at that very time. So would my program be able to connect Nasdaq to Dax, both will work with the same time. And not the one with 04:00 and the other with 09:00. I know all happenings in MY time. It is of no single use to know that the US stock markets open at the Exchange time of 08:30 (Chicago time). I’d need to remember pairs of entities while today I remember one element : US opens at 15:30 and that this is my own time I don’t need to remember. It always is.
Now what happened with IG in my assumption (and I have reasons to believe that) : IG changed the opening of DAX from whatever it is for you to (02:15 during Summer Time) to something which aligns with their USA thinking.
IG is mad, because they also changed the opening of Nasdaq (CME) from whatever it is for you (00:00 in our group’s case) to 17:00 local exchange time.
Mind you, the two sentences above actually came to me the other way around : what I heard (from PRT) was the second and what I derive from that is the DAX story in the first line. The argument to do this was coincidentally (?) the same as you, XORANDNOT – get rid of the daylight savings shift in time.
And all this is not told to us, not by Nicolas, not by IG that I know of and not by PRT who only think all is fine now.
The conclusion from others remain : they don’t know what they are doing (please decide yourself who is “they”).
Please note that from the PRT catacombs this told to me as a “simple, no problem at all, we as PRT think it is fine”, while we were not even told it is going on like this.
Whatever how the story really is, IG is finished with her job and is not going to reverse it. It has been a design decision, which in the end I can feel along with (see the first sentences of this post). But t shouldn’t have changed; I wouldn’t know where to begin or how to think about this (there’s head nor tail for me at this moment).
Disclaimer please : Like Nicolas is only the messenger I too heard it from my messenger with the most carefully chosen words. Point is : it is my conclusion that what IG did for US markets, was applied to all markets, DAX included. It is just wrong.
But PRT doesn’t know this, unless they believe the (told by me) “story” that something is now really wrong with DAX and probably more.
I told about the 100 posts complaining about this very (DAX) subject, but this appears not known to support. Mind you PRT support. And IG ? IG probably thinks nothing much because they just can’t oversee the issues caused. But who is telling them the issues “to the point”. Not me, not PRT and nobody from here that we can see. Why the latter ? nobody understands what happened and can only see that it is wrong. In addition, nobody states things ready. Remember, the ever LACKING release note system. We must find out for ourselves. But we don’t know what to find out.
Yes what a mess
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