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New York Stock Exchange. (Photo = Yonhap News) |
[Alpha Biz= Reporter Kim Sangjin] On November 27 (local time), the U.S. Securities and Exchange Commission (SEC) approved a proposal from 24X National Exchange to allow 24-hour stock trading. Initially, the exchange will operate only during regular trading hours (16 hours), but once it meets certain requirements related to funding and infrastructure, it will expand to allow trading from Sunday to Thursday, between 8 PM and 4 AM the next day.
24X National Exchange is a startup backed by Point72, the investment firm founded by prominent hedge fund manager Steve Cohen. The move to offer trading on Sundays, in particular, could be a key differentiator for the exchange, especially as platforms like Robinhood and Interactive Brokers have already begun offering extended trading hours during weekdays since the COVID-19 pandemic. Additionally, the New York Stock Exchange has recently filed a proposal with the SEC to extend its trading hours to 22 hours a day.
However, there are concerns surrounding extended trading hours. Critics argue that with lower trading volumes compared to regular hours, stock prices could become highly volatile during these extended sessions, potentially exposing investors to greater risk.
알파경제 Kim SangJin (letyou@alphabiz.co.kr)
