NYSE Considers Embracing Cryptocurrency Trading Around The Clock: Financial Times Reports

• The NYSE’s data analytics team recently conducted a survey to gauge stakeholders’ opinions on round-the-clock trading, considering extending trading to weekends in addition to the current five-day week, according to a Financial Times report on Monday.
• If the NYSE adopts 24/7 trading, it could be following the lead of cryptocurrency markets, which operate around the clock.

Traditional markets might be adopting a practice from cryptocurrency exchanges as the New York Stock Exchange (NYSE) considers nonstop trading, according to a survey reported by the Financial Times.

The NYSE’s data analytics team sent out a survey to stakeholders to assess the possibility of extending trading to weekends and operating 24/7, the Financial Times reported on Monday. This is a significant departure from the current trading hours, which run from 9:30 a.m. to 4 p.m. ET.

Cryptocurrency markets are open 24 hours a day, 7 days a week, and 365 days a year, a feature that crypto companies claim offers flexibility and more chances to build wealth for investors globally. This comes as retail trading surged during the pandemic, and platforms like Robinhood now allow some stocks to be traded on a 24/7 cycle.

The 24 Exchange Proposal

The NYSE’s survey coincides with a new effort by startup firm 24 Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to establish the first around-the-clock stock exchange. According to the Financial Times, this startup is supported by Point72 Ventures, a fund owned by New York Mets owner Steven Cohen.

This is the second attempt for 24 Exchange, which withdrew a previous proposal last year due to operational and technical issues. The Financial Times noted that the SEC has several months to review the firm’s plans.

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