The New York Stock Exchange (NYSE) is considering a shift to 24-hour trading, similar to the cryptocurrency market. This move is being evaluated by gauging market participants' sentiment through surveys. Currently, the NYSE operates from 9:30 am to 4:00 pm Eastern Time, Monday through Friday.
Some assets in the US, like cryptocurrencies, are already traded 24/7. Brokerages like Robinhood offer after-hours trading for US stocks through "dark pool" venues. However, Robinhood recently halted this service due to market volatility, raising concerns about the sustainability of 24-hour trading.
A startup exchange, 24X National Exchange, is seeking approval from the SEC to launch the first 24/7 exchange in the US. The SEC is still reviewing the proposal, with questions regarding fees, clearing houses, and liability.
Professor James Angel from Georgetown University believes the market should decide the viability of 24-hour trading. If it succeeds, everyone benefits. If it fails, only exchange investors lose money. This is the second attempt by 24X National Exchange to gain SEC approval, after withdrawing its proposal in March 2023 due to operational issues.
