Spotlight: Pacific Exchange to Cut Trading Day by 20 Minutes

Beginning today, the Pacific Exchange will close at 1:30 p.m., reducing its after-hours trading session by 20 minutes. Nearly all of the San Francisco-based exchange’s after-hours trading occurs before 1 p.m. so the change should have little impact on investors. “We are making this change because the light volume in the last 20 minutes of trading does not justify the costs incurred,” spokesman Dale A. Carlson said. About 5% of its total average daily volume is traded after 1 p.m.