By John McCrank
(Reuters) – Round-the-clock trading, a feature of cryptocurrency markets, will likely arrive in U.S. equities within five years, some retail brokerages and exchange operators, including Robinhood Markets and Cboe Global Markets.
At Robinhood, nearly three-quarters of the company’s roughly 14 million monthly active users, whose primary recurring investment is in bitcoin, conduct their investment research outside of market hours and want to trade at their convenience. said Brokerage Manager Steve Quirk.
“There are a lot of people now working odd hours in the gig economy and the idea that they have to sit down and figure out when they can trade or invest is a bit foreign to them,” he said. declared at the annual conference of the Security Traders Association. in Washington.
He predicted that in five years, 24/7 stock trading will be commonplace, a view widely shared by conference speakers.
“I don’t even think it will be five years before customers can voice their opinions around the clock,” Cboe chief executive Ed Tilly said on another panel.
The exchange operator already operates in markets around the world and has seen interest in round-the-clock trading increase as it extended trading hours for its proprietary products linked to the S&P 500 and VIX volatility indices, a- he declared.
Retail brokerage Webull also operates globally and is working on 24/7 trading capabilities to meet client demands, CEO Anthony Denier said.
Chicago-based market maker Simplex Trading is also planning a move to 24/7 trading and is assessing logistical challenges, CEO Erik Swanson said.
“It’s very nerve-wracking for me to think about how we’re going to do it, whether it’s on a lot of Red Bull or whether it’s with sun tracking,” he said.
(Reporting by John McCrank)
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