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February 08, 2010

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Regarding "staggered" openings - you get this sort of thing anyway with respect to US indexes and the Market Makers/Specialists that operate on NYSE (eg. they might not open up a stock until 9:32am).

In general, the opening value of any index that has has components that may not be available for trading immediately is suspect.

For example, consider a global index that covers stocks from Australia, Japan, Singapore, Europe, North and South America.

Because these instruments are available for trading at different overlapping and non-overlapping times (and in different currencies) then any notion of "open", "high" and "low" is suspect.


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