Steve

Read

<div class="protos">
 The New York Stock Exchange is reportedly polling traders to see if they want to open trading up 24 hours a day, seven days a week, similar to cryptocurrency and forex markets.
 Leading the charge on the proposed change is infamous hedge fund manager Steve Cohen, who is attempting to open up his own exchange called 24 Exchange, which currently has tradeable markets out of Bermuda.
 Last year, 24 Exchange discontinued trading in crypto products and gave up on a bid to open up trading of US equities but it’s restarting the process now.
 The current move wouldn’t be the first time that the <a rel="noopener noreferrer nofollow" title="NYSE" href="https://thebittimes.com/tag/nyse.html">NYSE</a> has considered plans to become a 24/7 <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> venue. Indeed, in 1990 John Phelan Jr., chairman of the <a rel="noopener noreferrer nofollow" title="NYSE" href="https://thebittimes.com/tag/nyse.html">NYSE</a>, proposed a plan to ensure <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>s were never closed.
 At the time, the reasoning was that the NYSE was losing market share to foreign markets like the London Stock Exchange. The proposal would’ve brought 24-hour trading to the NYSE trading floor by 2000, but nothing ever materialized.
 Read more: A year on from the <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> regional banking crisis, what’s <a rel="noopener noreferrer nofollow" title="change" href="https://thebittimes.com/tag/change.html">change</a>d?
 <h2 class="wp-block-heading" id="h-a-new-paradigm-hustle-more">A new paradigm: Hustle more</h2>
 There are, of course, benefits to having markets open 24 hours a day. Currently, if news breaks about a company late on a Friday evening — positive or negative — market participants need to wait until early Monday morning to trade based on the news. With a 24/7 market, price discovery would occur sooner — though it’s unclear if weekend movements would be less liquid and therefore more volatile.
 Currently, many brokers offer pre-market and after-market trading to customers. This means that shares are tradeable in the hours before the New York Stock Exchange officially rings the opening and closing bells, but these markets are almost always meaningfully less liquid than during ‘open’ trading hours.
 What a 24/7 market is sure to accomplish is less time off for executives and traders who will need to always be abreast of market direction, breaking news, and regulatory filings, and more profit for market makers and high-frequency traders, as their roles grow outsized in thinner weekend markets.
 Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-markets-inspire-new-york-stock-exchange-24-7-trading-plan-tbt86265.html">https://thebittimes.com/crypto-markets-inspire-new-york-stock-exchange-24-7-trading-plan-tbt86265.html</a>

Crypto markets inspire New York Stock Exchange 24/7 trading plan

Tabla de contenidos

TheBitTimes

Otros artículos publicados el 23 abr 2024

dogwifhat Price Prediction: WIF Price Eyeing $5 Before Bitcoin Halving?

Exploring the Surge in Social Activity for Bitcoin and Chainlink

Top 5 Cryptos That Might Explode 1000% in the next 30 Days

Cardano’s Price Performance and AI-Powered Future Forecasts

Beam, Immutable X, surge 7%; Traders bullish on GameFi token Mega Dice

Turning $100 into $95,000: The Low-Cost Crypto Investment Plan

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!