Cryptocurrency markets operate continuously, trading every day of the week, around the clock. In a similar vein, reports indicate that the New York Stock Exchange (NYSE) is exploring the possibility of shifting to 24/7 operations. The data team at NYSE has conducted a survey among its investors, revealing a strong interest in the availability of overnight trading options.
NYSE Considers 24-Hour Trading Model in Response to Crypto Market Trends
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New York Stock Exchange Mulls Continuous Trading Hours
On Monday, the Financial Times (FT) disclosed that the Intercontinental Exchange, which owns the NYSE, had its data analytics team conduct a survey among its members to evaluate interest in moving to 24/7 trading. The FT indicated that this idea has been gaining traction over recent years, influenced by the continuous operations of cryptocurrency markets, noted as “24-seven operation of cryptocurrency trading.”
The push for this change was also fueled by a surge in retail investors during and following the Covid-19 lockdowns. The New York Stock Exchange operates from Monday to Friday, 9:30 a.m. to 4:00 p.m. Eastern Daylight Time (EDT). Additionally, it hosts a pre-trading session from 4:00 a.m. to 9:30 a.m. EDT and a post-trading session from 4:00 p.m. to 8:00 p.m. EDT. According to the FT report, survey participants were queried about their willingness to engage in weekend trading.
FT’s Jennifer Hughes reports that this development coincides with a startup named 24 Exchange seeking approval from the U.S. Securities and Exchange Commission (SEC) to operate its equities trading platform around the clock, seven days a week. An institutional broker informed Hughes that there is a demand for such trading; however, he also cautioned that staffing adequately could present a significant challenge.
“There’s demand for 24-hour trading, but it’s not necessarily from the entire marketplace,” the broker told the FT reporter. “Things already happen outside regular hours and you need to keep on top of that to some degree — but that’s very different to something happening to, say, Apple at 2 a.m. or even 4 p.m. on a Saturday. What do you do then?”
What do you think about the NYSE considering 24/7 trading like crypto markets? Share your thoughts and opinions about this subject in the comments section below.
