The London Stock Exchange has kicked off a formal consultation with its members on shortening Europe’s trading day, as called for earlier this year by the trade bodies for fund managers and bankers in the region.

The stock exchange group has set out a series of options for shortening the market’s 8.00-16.30 hours of operation, following pressure from traders over their long working days, plus the rise of passive investing, which has pushed more trading to the final few minutes before market close.