The New York Stock Exchange (NYSE) is surveying market participants about the benefits of 24/7 stock trading, as regulators consider a request to launch the first 24-hour, 7-day-a-week exchange.
The survey, conducted by the NYSE's data analytics team, which is part of Intercontinental Exchange Inc. (ICE), is more about the growing interest in overnight trading of shares of companies like Nvidia or Apple than management's decision. The day is between 8:00 PM and 4:00 AM EST.
This issue has become a hot topic in recent years due to the around-the-clock activity of the digital currency market and the increased activity of retail investors, which was first stimulated by the shutdowns caused by the Corona pandemic.
Stock exchanges are somewhat of a laggard in a world where other major markets, including U.S. Treasuries, major currencies and leading stock index futures, are traded around the clock, Monday through Friday.
Several retail brokerages, including Robinhood and Interactive Brokers, currently offer 24-hour weekday access to US stocks. Their trades are either matched against their domestic holdings or through a "hidden" trading venue such as Blue Ocean, where stocks are often traded with Asian retail investors during their day.
However, an 24/7 exchange will be a fundamental step in understanding late trading due to its heavy financial supervision compared to the hidden markets. Exchanges are directly monitored by the Securities and Exchange Commission (SEC) and tested for stability and security, and require approval for any regulatory changes.
Also, trading in stock exchanges at night most likely determines the initial tone of market participants for trading during normal market hours.