The New York Stock Exchange (NYSE) is to extend weekday trading on the NYSE Arca equities exchange to 22 hours a day.
Kevin Tyrrell, head of markets for NYSE, told Global Trading that the exchange is “targeting 2025, subject to regulatory approval and industry readiness”.
Following regulatory approval, all US-listed stocks, ETFs and closed-end funds will be available to trade on the exchange from 1:30 am to 11:30 pm ET on weekdays, excluding holidays. Extended-hours trades will be cleared by DTCC, which required the National Securities Clearing Corporation (NSCC) to advance its start of day from 3:50 am to 1:30 am ET.
Michele Hillery, general manager of NSCC equity clearing and DTC’s settlement service at DTCC, told Global Trading: “This did not require any changes to DTCC’s operations. DTCC made this change based on evolving client and industry needs, and in pursuit of delivering additional efficiencies to member firms.”
Currently, the all-electronic exchange is open for trading between 4:00 am and 8:00 pm ET; already a longer window than NYSE’s American Equities exchange, which does not open until 7:00 am.
Tyrrell said: “The initiative underscores growing demand for our listed securities around the world. As the steward of the US capital markets, the NYSE is pleased to lead the way in enabling exchange-based trading for our US-listed companies and funds to investors in time zones across the globe.”
NYSE Group reported taking 19.6% of US equity exchange market share in Q3 2024.
Nasdaq, by contrast, held 16.1% of the pie. Currently open for trading between 9:30 am and 4:00pm ET, the exchange declined to comment on NYSE Arca’s extended trading hours, the impact this may have on market share or whether it expected to make a similar change.
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