That’s why Craig Gorman, a partner at First New York Securities, routinely monitors his trading positions in the middle of the night. in Southern California, to check their BlackBerrys for updates from colleagues in Europe.įor traders, there is too much to lose if they sleep through history. Senior executives at the Pacific Investment Management Company, the giant bond-trading house, wake up at 1 a.m. The nest of night owls is growing more crowded. “You are almost forced to get up and watch the goings-on,” he added. All last week, the musings of the German chancellor, Angela Merkel, and other European leaders put the markets on edge.

Kass, a hedge fund manager who routinely sets his alarm for precisely that time to scan the headlines coming out of Europe. “We have a new credo: carpe noctem - seize the night,” said Douglas A. Now, Wall Street has an unofficial opening bell: the 2:30 a.m. Gone are the days when traders showed up to work just before the New York Stock Exchange opened at 9:30 a.m. As the European debt crisis roils the markets, American traders who once awoke at dawn are now rising in the dead of night to gain an edge when business begins in London, Paris and Frankfurt.

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