Fun

NYSE gauges interest in 24/7 stock trading like crypto: Report

News Feed - 2024-04-23 09:04:45

Brayden Lindrea8 hours agoNYSE gauges interest in 24/7 stock trading like crypto: ReportWhile cryptocurrencies can trade and settle all day and night, stock trading has traditionally followed office hours.2345 Total views1 Total sharesNewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe New York Stock Exchange (NYSE) is reportedly getting a gauge on whether traders would embrace 24-hour stock trading, similar to how cryptocurrency markets operate.


To test market sentiment, NYSE’s data analytics team put out a survey asking market participants whether they would support 24/7 or 24-hour weekday trading and if so, what systems should be put in place to protect traders from overnight price swings, according to an April 22 report from the Financial Times.


NYSE — along with the Nasdaq and Chicago Board Options Exchange — currently trade Monday to Friday between 9:30 am to 4:00 pm Eastern Time.


In the United States, assets such as cryptocurrencies, United States Treasurys, foreign exchange and leading stock index futures can already be traded 24/7, while some brokerages offer 


Robinhood and Interactive Brokers are such platforms, offering 24-hour weekday access to U.S. stocks by facilitating a “dark pool” trading venue allowing international retail investors to trade shares during their daytime hours.


However, last week, reports emerged that Robinhood halted its 24-hour trading services following increased tensions between Israel and Iran, raising investor concerns about the sustainability of around-the-clock trading.


Managing liquidity in a 24/7 trading arena has al proven a tough task for trading platforms in the cryptocurrency industry.


It often creates a “mismatch between the operating hours of traditional financial institutions and the needs of large crypto traders and market makers,” noted cryptocurrency research firm Kaiko. Sleepless nights are a common complaint for traders when the market becomes extremely volatile too.


While results of NYSE"s poll haven’t been released, Skylands Capital senior trader Tom Hearden posted a poll of his own asking his 19,300 X followers whether they would support NYSE moving to 24/7 trading hours — with over 70% of the 1,459 respondents voting “No.”Source:Tom Hearden


NYSE’s poll comes as startup firm 24X National Exchange is seeking approval from the Securities and Exchange Commission (SEC) to launch the first round-the-clock exchange in the country.


Related:Stocks and crypto at the edge of ‘significant’ correction: 10x Research


The SEC still has “months” to review the requested rule change, while other stakeholders involved are already looking at pertinent issues, such as who should bear costs and the role of clearing houses, FT said, citing two sources familiar with the matter.


“I have no idea how much volume they’re going to be doing in the middle of the night. But it’s really not up to the SEC to decide whether it’s commercially viable or not,” said James Angel, a finance professor at Georgetown University to FT.“I’m in favour of letting the market decide. If it succeeds, we’re all better off and if it doesn’t, well, the exchange’s investors lost.”


It marks the second attempt at SEC approval after the firm withdrew a proposal in March 2023, citing operations and technical issues.


Magazine:Jameson Lopp: Skeptical of spot Ether ETFs, BTC price prediction dilemma: X Hall of Flame# Blockchain# Business# NYSE# SEC# Adoption# Cryptocurrency Exchange# Stocks# Robinhood# Stock Investment# Liquidity# Stock ExchangeAdd reaction

News Feed

Binance Announces SAFU Fund Has Reached $1 Billion
Binance Announces SAFU Fund Has Reached $1 Billion Binance has announced one of its trademark features, the SAFU fund, has reached a milestone in its development. The SAFU fund, an
Cryptocurrency Futures and Prediction Markets Show Trump Wins the US 2020 Election
Cryptocurrency Futures and Prediction Markets Show Trump Wins the US 2020 Election In less than 270 days the United States will have its 2020 election and millions of people worl
Starknet staking will hit mainnet in Q4 — EthCC
Josh O"Sullivan11 hours agoStarknet staking will hit mainnet in Q4 — EthCCStarknet plans to introduce staking through a new protocol launching on the testnet before a mainnet release in Q4.660 Total views5 Total shares
Coinbase Wallet Adds Support for Short and ‘Human-Friendly’ Cryptocurrency Addresses
Coinbase Wallet Adds Support for Short and "Human-Friendly" Cryptocurrency Addresses One of the scariest features of transacting with cryptocurrency, for many new users, is corre
Turner Wright4 hours agoBlockchain Association responds to US lawmakers’ request for crypto tax guidanceLawmakers with the U.S. Senate Financial Services Committee announced in July they would be accepting suggestions
Bitcoin Mining Revenue in Russia Grew 18 Times in 4 Years Before ‘Worst Quarter’
Bitcoin Mining Revenue in Russia Grew 18 Times in 4 Years Before ‘Worst Quarter’ Russian revenues from the minting of bitcoin saw a multifold increase in the past few years bef
BlackRock's BTC ETF investors keep buying despite ‘plummeted’ Bitcoin outlook
Brayden Lindrea6 hours agoBlackRock"s BTC ETF investors keep buying despite ‘plummeted’ Bitcoin outlookThe amount of positive Bitcoin commentary on social media is just a third of what it was four months ago, accordi
Marcel Pechman3 hours ago3 reasons why Bitcoin’s price is primed to hold the $30,000 level as supportBitcoin’s price has been showing weakness near the $30,000 level, but multiple data points highlight the fact that
Australian Monochrome spot Bitcoin ETF expected to launch within 2 months, says CEO
Prashant Jha13 hours agoAustralian Monochrome spot Bitcoin ETF expected to launch within 2 months, says CEOAlthough Australia already has a couple of ETPs exposed to Bitcoin, Monochrome’s spot BTC ETF will be the first
TRON, Stellar Join Mousebelt’s Blockchain Education Alliance to Train Student Developers
Crypto firms need young developers, university students need jobs and a new alliance of blockchain educators wants to give both a hand. The Blockchain Education Alliance will addres
Turner Wright7 hours agoCoinbase cites SEC action against Kraken in push for crypto rulemakingThe Nov. 22 letter claims that “only mandamus will impel the [SEC] to fully, finally acknowledge that Coinbase’s petition
How to growth hack Web3 marketing like an OG
Savannah Fortis8 hours agoHow to growth hack Web3 marketing like an OGThe secrets of effective storytelling in the evolving Web3 and crypto space are unlocked as Amanda Cassatt shares her insights and strategies working