Following the footsteps of the cryptocurrency industry? NYSE, 24 Exchange explore the possibility of round-the-clock trading.

According to a report by the Financial Times, the New York Stock Exchange (NYSE) is seeking market participants' opinions on the idea of implementing 24-hour trading, similar to cryptocurrencies.

New York Stock Exchange and 24 Exchange Seek to Offer 24/7 Trading

The history of the New York Stock Exchange can be traced back to the 18th century, with iconic bell-ringing ceremonies held at the daily opening and closing from 9:30 am to 4 pm. However, due to online trading, trading activities have expanded to pre-market and after-hours trading.

Online retail brokers like Robinhood already allow customers to trade day and night. The New York Stock Exchange's survey on the willingness for 24/7 trading includes:

1. Are users interested in conducting overnight trades daily?

2. How to protect investors from price fluctuations?

3. Opinions on staffing during overnight trading hours.

It is not just the New York Stock Exchange considering this, but also "24 Exchange 24X," a startup exchange supported by hedge fund manager Steve Cohen, aiming to become the first securities exchange to allow 24/7 trading.

This is the second application for 24X, after withdrawing the proposal last year due to operational and technical issues. The SEC will have several months to rule on the 24X exchange application.

COVID-19 Boosts Retail Trading Motivation

During the COVID-19 pandemic, with increased interest in cryptocurrencies and significant growth in retail trading, 24/7 trading has become a popular idea. In recent years, European and Asian investors have also shown a growing interest in U.S. financial assets.

Brian Hyndman, CEO of Blue Ocean, a platform focusing on providing overnight trading, also believes that the world has changed with the outbreak of the pandemic and the 24/7 trading feature of cryptocurrencies.

Dmitri Galin, founder and CEO of 24 Exchange, once told Bloomberg:

"Anyone who wants to trade cryptocurrencies around the clock would also want to trade Apple or Microsoft stocks 24/7."

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