The New York Stock Exchange is polling participants on the possibility of being able to trade stocks 24/7

The New York Stock Exchange is polling participants on the possibility of being able to trade stocks 24/7.

The New York Stock Exchange (NYSE) is exploring the possibility of moving to a 24-hour trading schedule, similar to the one used by cryptocurrencies, according to the Financial Times. Despite its traditional bell-ringing ceremonies that mark the start and end of daily trading, the NYSE has seen electronic trading occur before the 9:30 a.m. opening bell and after the 4 p.m. closing bell for some time now.

24 Exchange, a startup backed by billionaire hedge fund manager Steve Cohen, aims to become the first stock exchange to offer 24/7 trading. This move is influenced by the success of retail brokers like Robinhood, which already allow clients to trade at any time. Dmitri Galin, the founder and CEO of 24 Exchange, believes that the demand for continuous trading extends beyond cryptocurrencies, with investors wanting the ability to trade stocks like Apple and Microsoft around the clock.

The idea of round-the-clock trading gained traction during the Covid-19 pandemic, fueled by the surge in interest in cryptocurrencies and the growth of retail trading. With increased investor interest from regions like Asia and Europe in U.S. financial assets, the notion of 24/7 trading has become more appealing.

The NYSE's survey on the matter includes questions about whether participants prefer trading seven days a week, how investors should be protected from price fluctuations, and opinions on staffing for overnight sessions. The Securities and Exchange Commission (SEC) has several months to decide on 24 Exchange's application.