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The New York Stock Exchange is considering introducing a 24/7 system, the FT reported.
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According to the exchange, it surveyed market participants about the benefits of 24-hour trading.
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Meanwhile, a startup backed by Steve Cohen is seeking SEC approval for a 24-hour exchange.
In a move befitting the city that never sleeps, the New York Stock Exchange is considering whether trading should be open 24 hours a day.
The Financial Times reported Monday that the New York Stock Exchange's data analysis team surveyed market participants about the benefits of 24-hour trading.
Investors can only trade stocks on the exchange between 9:30 a.m. and 4:00 p.m. ET, but they can buy and sell other assets such as stock futures, U.S. Treasuries, and cryptocurrencies at any time.
It is also possible to trade before the market opens at 4am and after the market closes until 8pm, but these times are generally less liquid and trading fees tend to be higher. Some brokers allow investors to trade around the clock on weekdays.
According to the FT, the NYSE asked market participants in a poll whether they thought exchanges should be open 24 hours a day, 365 days a year, or only on weekdays.
We also asked how investors should be protected during periods of volatility, what the night-time staffing plan should be, and whether respondents said, “The time you spend thinking about night trading is better spent trading during normal market hours.'' The survey was also conducted to find out whether people think that.
Meanwhile, a startup backed by billionaire Steve Cohen's venture capital firm Point72 Ventures is seeking SEC approval to launch the world's first 24-hour stock exchange.
Bermuda-based 24 Exchange has secured $14 million worth of investment from Point72 Ventures and others and aims to bring the non-stop nature of cryptocurrency trading that has attracted retail investors in recent years to the stock market. ing.
“With the GameStop movement and retail participation across the board, the same people who trade crypto started trading more stocks. [has] Dmitri Galinov, founder and CEO of 24 Exchange, said in December 2021, “If Elon Musk tweets something on Saturday, people will want to buy or sell Tesla stock. ” said in December 2021.
Read the original article on Business Insider
