Oct. 25 (UPI) — New York Stock Exchange parent company Intercontinental Exchange, Inc. said Friday that weekday electronic trading will be extended to 22 hours a day, subject to regulatory approval.
The change would allow trading from 1:30 a.m. to 11:30 p.m. EDT every weekday, excluding holidays. The extended trading would happen on Arca, a fully electronic exchange of the NYSE.
“The NYSE’s initiative to extend U.S. equity trading to 22 hours a day, five days a week underscores the strength of our U.S. capital markets and growing demand for our listed securities around the world,” said Kevin Tyrrell, Head of Markets, New York Stock Exchange in a statement.
The NYSE said it will also seek extended trading for U.S. securities information processors.
If approved, trading on all U.S.-listed stocks, ETFs and closed-end funds would be available on NYSE Arca during the 22-hour per weekday proposed stock trading extension.
Tyrrell’s statement added that the NYSE is “pleased to lead the way in enabling exchange-based trading for our U.S.-listed companies and funds to investors in time zones across the globe.”
The NYSE plans to file the changes with the Securities and Exchange Commission for approval.
According to the NYSE, the trades would continue to be cleared by Depository Trust & Clearing Corporation.
The extended NYSE trading is being sought as other entities like Robinhood and global cryptocurrency exchanges offer 24-hour-a-day trades.
COMMENTS
Please let us know if you're having issues with commenting.