09:47:44 EDT Mon 24 Jun 2024
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Globe says SEC finds markets moving to 24/7 trading

2024-05-13 07:38 ET - In the News

See In the News (C-*SEC) U S Securities and Exchange Commission

The Globe and Mail reports in its Saturday edition that having the world's financial markets revolve around a literal bell that rings twice daily seems a touch outdated. The Globe's Tim Shufelt writes that the New York Stock Exchange is surveying market participants on their thoughts about implementing round-the-clock trading. Some discount brokers like Robinhood already offer a version of overnight trading using private exchanges called "dark pools." Robinhood recently said that up to 25 per cent of trading activity on its platform takes place outside standard market hours. Meanwhile, fintech companies like Blue Ocean have given investors in Asia the opportunity to trade U.S. stocks on their own time, free from the yoke of the New York trading day. For the NYSE to head in this direction would be a much different beast than the current patchwork. Such a move by the world's largest exchange would legitimize overnight trading, with direct oversight by the Securities and Exchange Commission. Giving investors the opportunity to manage risk or react to late news would improve access and make the financial markets more efficient. It may also help with the clustering of market noise around the opening and closing bells.

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