THE New York Stock Exchange (NYSE) is currently seeking feedback from market participants regarding the potential benefits of implementing a 24/7 trading program similar to cryptocurrency trading such as Bitcoin Bitcoin/USD AND Ethereum ETH/USD. This move coincides with regulatory scrutiny of a proposal for the first seamless exchange, which has the support of Steve Cohen.
What happened: The NYSE, a part of Intercontinental exchange ICEis actively seeking opinions on whether shares can be traded around the clock, the Financial Times reported on Monday.
The survey, conducted by the NYSE data analytics team, highlights the growing interest in trading major stocks such as the Apple company AAPL AND NVIDIA Corp NVDA during the night hours.
The surge in retail investor activity, initially triggered by lockdowns related to the COVID-19 pandemic, and the continued trading of cryptocurrencies have been the main drivers of this discussion.
While other major markets, including U.S. Treasuries, major currencies and major stock index futures, can be traded around the clock, stock exchanges have been relatively slow to adapt. However, several retail brokers, like Robin Hood Markets Inc. HOOD AND Interactive brokersthey now offer 24-hour weekday access to US stocks.
“I have no idea how much volume they’re going to make in the middle of the night. But it’s really not up to the SEC to decide whether it’s commercially viable or not. I’m in favor of letting the market decide. If it’s successful, we’ll all be better off, otherwise the investors of ‘exchanges will lose,’ he said Giacomo Angelofinance professor at Georgetown University, who submitted a letter in support of 24X’s plan.
See also: Has Robinhood stopped 24-hour trading? Social media explodes with screenshots and theories: “Tomorrow is N
The NYSE survey seeks opinions on various aspects of 24-hour trading, including whether it should be extended to weekends, how investors should be protected from price fluctuations and how overnight sessions should be organized.
Meanwhile, the SEC is reviewing a proposal for the first 24/7 exchange, supported by Steve Cohen’s Point 72 hedge fund. The SEC has several months to review the plans, and no issues with the proposal had been raised as of Friday.
Because matter: The potential shift to 24-hour trading represents a significant development in financial markets. This move could have a profound impact on the global trading landscape, especially with the rise of retail investors and the growing popularity of cryptocurrencies.
Robinhood recently faced speculation about an outage of its 24-hour trading service, further highlighting the potential impact of changes in trading hours on the market.
Read Next: Bitcoin Halving, Elon Musk’s Dogecoin Tweet, Rise of Solana, and More: This Week in Cryptocurrency
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