(MorningBrew) 4/23/24 Quote: “Things already happen outside regular hours and you need to keep on top of that to some degree—but that’s very different to something happening to, say, Apple at 2am or even 4pm on a Saturday. What do you do then?” Your day-trader friend who’s always got half an eye on their second monitor when you’re trying to have a conversation could soon become even more distracted. According to the Financial Times, the New York Stock Exchange is polling market participants on whether they’re eager to have 24/7 trading, as the SEC weighs a proposal from startup 24 Exchange to open an all hours exchange. While some may be jonesing to buy stocks at 3am without any of the currently necessary workarounds, one institutional broker told the newspaper that going always on could create staffing headaches. Also:- NYSE Asks Market Participants About 24/7 Trading for Stocks https://www.coindesk.com/markets/20...et-participants-about-247-trading-for-stocks/
There are various products and various exchanges with various opening hours. Some Exchanges are open almost 24 hours/day. Some products are traded on some exchanges for a few hours. rubber, palm oil futures are traded for about 6 hours a day. copper, crude oil .... futures on the Shanghai Exchange are open for a few hours a day with many many many breaks : 15-minute morning tea break 2 hours lunch break 9 hours afternoon break 6 hours night break When the exchanges increase the trading hours, they have to make sure the profit is > overhead cost. So what is appropriate for the stonks?
Apparently the New York Stock Exchange was open on Saturdays before 1953. Any old farts on this board remember those days? Buffet probably does.
That's what I've often wondered about Ross Cameron,who seems to do 90% of his trading in pre-market. Who is on the other side of his trades at 4 or 5 O'clock in the morning? Day traders in Berlin,London,Paris,etc?
That would make such a former Series 7 person close to 100 now. But I do recall one guy in the first BD I worked at, he apparently never took any Series 7 Exam. Seems things were much more informal back then (late 40's-50's). Pretty sure the NYSE would close on Wednesdays in the 70's. Have the back office catch up.
%% USED to be 10 am to between 2+ 4:00, 1871; i traveled in time tunnel of internet to see that LOL. Not that old. By 1793, too big to trade under the button wood tree