Nasdaq, NYSE Arca and Cboe EDGX Plan 23-Hour US Equities Trading From Dec. 6

IndustryRegulation
โดย Seeking Alpha·US·Read original
Summary · why it matters

Nasdaq, NYSE Arca and Cboe EDGX plan to extend US equities trading to 23 hours a day, five days a week beginning Dec. 6, subject to final SEC approval. Seeking Alpha analysts Luca Socci and Jack Bowman weighed the pros and cons of near-continuous trading. Socci said the shift toward a 24-hour market is a matter of when, not if, arguing that more activity will be regulated and exchange structures will improve, that non-US residents will see the time-zone mismatch reduced, and that price discovery could become more continuous, narrowing gaps at the opening bell. He cautioned that longer hours do not necessarily mean more liquidity and that companies will have to figure out how to release earnings while the market is open, noting Berkshire's Saturday reporting strategy could find followers. Bowman said the main benefit for retail investors is no longer being bound to traditional market hours, but warned overnight demand is thin outside institutions and that spreading liquidity across 23 hours will fragment it further. Both flagged exchanges as beneficiaries, with Socci naming Cboe Global Markets, Nasdaq, Intercontinental Exchange, Equinix, Digital Realty Trust, Broadridge Financial Solutions and Virtu Financial, while Bowman cited Nasdaq, the NYSE, Cboe Global Markets and CME, expecting derivatives volume to rise as cross-security hedging becomes more viable.

Impact on stocks 8

Financials▲ · 2 stocks
Cboe Global Markets Inc
CBOE
▲ PositiveDemandrelevance

Cboe EDGX is one of the exchanges extending trading to 23 hours, and Cboe Global Markets is named as a beneficiary by both analysts.

Virtu Financial, Inc.
VIRT
▲ PositiveRegulationrelevance

Virtu Financial is named by Socci as a beneficiary of the move toward near-continuous 23-hour US equities trading.

Cloud & Digital Infrastructure▲ · 2 stocks
Equinix Inc
EQIX
▲ PositiveDemandrelevance

Socci names Equinix as a beneficiary of the move to near-continuous US equities trading.

Carbon Removal (DAC)▲ · 2 stocks
Intercontinental Exchange Inc
ICE
▲ PositiveDemandrelevance

Intercontinental Exchange (NYSE Arca parent) is extending trading to 23 hours and is named by Socci as a beneficiary.

CME Group Inc
CME
▲ PositiveDemandrelevance

Bowman cites CME, expecting derivatives volume to rise as cross-security hedging becomes more viable with longer hours.

Digital Finance & Tokenization▲ · 1 stocks
Nasdaq Inc
NDAQ
▲ PositiveRegulationrelevance

Nasdaq is one of the exchanges planning to extend US equities trading to 23 hours a day from Dec. 6, and is named as a beneficiary of the shift.

Artificial Intelligence▲ · 1 stocks

Theme Impact 1

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