- The Financial Times said on Monday that the NYSE’s data analytics team sent out a survey to stakeholders asking if they thought weekends should see round-the-clock trading in addition to five-day workweeks.
- Should the venerable exchange adopt round-the-clock trading, it might be borrowing a strategy from cryptocurrency trading.
New York Stock Exchange considered trading nonstop, suggesting that traditional markets could learn from the cryptocurrency exchanges.
According to a report published in the Financial Times on Monday, the NYSE’s data analytics team sent out a poll to stakeholders asking if they support round-the-clock trading on weekends in addition to during a five-day workweek. The exchange’s current hours, which are 9:30 a.m. to 4 p.m. ET, would be drastically different from this.
The cryptocurrency markets are open around-the-clock, seven days a week, and 365 days a year. According to crypto companies, this gives investors flexibility and more opportunity to make money, regardless of where they are in the world. This occurs at a time when investors may trade certain equities on a 24/7 cycle on sites like Robinhood, and retail trading surged during the epidemic.
The idea for 24 Exchange
The NYSE conducted the study at the same time as 24 Exchange, a start-up company, is applying to the Securities and Exchange Commission to open the first 24-hour exchange. The Financial Times reports that Steven Cohen, the owner of the New York Mets, has invested in the company through his Point72 Ventures fund.
The company is making another effort at 24X after withdrawing a plan a year ago because of technical and operational problems.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
