The New York Stock Exchange (NYSE) announced plans to extend trading hours on its all-electronic exchange to 22 hours daily. Under the new plan, trading on the NYSE Arca electronic exchange would open at 1:30 a.m. and close at 11:30 p.m. ET on weekdays, subject to regulatory approval. The NYSE plans to file updated rules for extended trading with the U.S. Securities and Exchange Commission.
The announcement comes as interest in all-day trading in U.S. markets has surged in recent years. Trading on NYSE Arca currently starts at 4:00 a.m. ET and closes at 8:00 p.m. ET, with regular trading hours between 9:30 a.m. and 4:00 p.m. NYSE Arca is recognized as a leading platform to buy and sell exchange-traded funds (ETFs) and more than 8,000 U.S.-listed securities. All U.S.-listed stocks, ETFs, and closed-end funds will be available for trading during the new 22-hour schedule, Intercontinental Exchange, the parent company of NYSE, stated.
Extending NYSE trading hours
“The NYSE’s initiative to extend U.S. equity trading to 22 hours a day, 5 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 at the New York Stock Exchange. “As the steward of the U.S. capital markets, 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.
Trades placed during extended hours will clear through the Depository Trust and Clearing Corp.
The proposal is subject to regulators’ approval. Interest in 24-hour trading has grown significantly in recent years. Online brokerage Robinhood launched its 24-Hour Market last year, allowing investors to trade 43 popular stocks and ETFs between 8 p.m. ET on Sunday and 8 p.m. ET on Friday.
Robinhood has since expanded the list of stocks and funds that can be traded during those hours.
