PANews reported on March 21 that according to CoinDesk, traders of global stocks and other traditional financial assets want to be able to buy and sell assets around the clock, which has prompted the two major US stock exchanges, Nasdaq and the New York Stock Exchange (NYSE), to take action and plan to provide round-the-clock trading services soon. Giang Bui, head of US stocks and exchange-traded products at Nasdaq, said at the New York Digital Asset Summit on Thursday: "We do see that the market is moving in this direction. There is a great demand for US stocks around the world, and people want to trade during their usual waking hours. I think this is largely because people are accustomed to 24/7 cryptocurrency trading." Bui added: "We have heard this demand from global brokers, the clients they serve, and even domestic brokers in the United States. Many US brokers already provide overnight trading services because their customers are accustomed to trading cryptocurrencies during these time periods."
Nasdaq and NYSE are seeking approval to extend their trading floors to 24 hours a day, 5 days a week, or even 7 days a week. Nasdaq recently announced that it had begun discussing this change with regulators, while NYSE has already received approval. 24/7 trading has multiple advantages for the market, including increased trading volume and market liquidity, as traders are no longer restricted to a specific time zone. Currently, the US stock market trading hours are 9:30 AM to 4:00 PM Eastern Time.
