The New York Stock Exchange (NYSE) recently conducted a poll of investors and traders, indicating a possible plan to extend trading hours at their exchange, suggesting an inclination towards 24-hour stock market operations.
An update would synchronize the stock exchange with the latest cryptocurrency marketplaces that are in constant operation, even on weekends.
All Hours Stock Trading On NYSE
The Financial Times reports that the NYSE’s questionnaire inquired about extending trading hours to include weekends, along with suggestions for staffing overnight sessions and safeguarding investors from significant price fluctuations.
The question additionally inquired if the time devoted to pondering overnight trading could be more effectively used for regular market hour trading instead.
The NYSE’s data management team released a survey revealing increasing activity in trading stocks such as Apple (AAPL) and NVIDIA (NVDA) during the late ET hours from 8:00 pm to 4:00 am, contrary to being conducted by the actual management team.
30 am Eastern Time (ET), concluding at 4:00 pm ET. Pre-market trading is available from 4:00 am ET to 9:30 am ET, while after-hours trading takes place between 4:00 pm ET and 8:00 pm ET. However, these periods come with some risks as the trading volume and liquidity are typically lower, volatility might be greater, and spreads could be wider compared to the regular market hours.
US stock markets have falling short in comparison to crypto, US treasuries, major currencies, and stock index futures, as the former can only be traded during restricted hours from Monday to Friday.
While some platforms such as Robinhood permit around-the-clock stock trading, they frequently engage in trades with “dark pool” venues during the night for interactions with Asian markets. In contrast, overnight trading on the New York Stock Exchange (NYSE) would benefit from stricter regulatory control since the Securities and Exchange Commission (SEC) directly oversees these transactions.
The NYSE’s questionnaire comes after a SEC filing by emerging exchange 24X, known as 24X (or 24 Exchange), aiming for authorization to initiate America’s first continuous equities trading platform.
Implications for Bitcoin ETFs
While Bitcoin (BTC) is continuously traded around the clock worldwide, newly introduced Bitcoin exchange-traded funds (ETFs) from BlackRock, Fidelity, and others follow the standard stock market schedule for trading. Some of these ETFs, such as the Bitwise Bitcoin ETF (BITB), are listed on the New York Stock Exchange (NYSE).
If Exchange-Traded Funds (ETFs) based on cryptocurrencies begin trading as regularly as cryptocurrencies on specialized exchanges, this could influence Bitcoin’s price trends. For instance, according to recent data from Kaiko, Bitcoin’s weekend trading volume has dropped to only 13% of the total trading volume in 2024. This decrease is partly due to Bitcoin ETFs being unavailable during weekends.
Based on Glassnode’s data, approximately one-third of all Bitcoin trading happening in the spot market is being conducted through Bitcoin ETFs.
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2024-04-22 22:06