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Should the stock market never close?
The New York Stock Exchange is looking into running 24/7.
Angela Weiss/Getty Images
By
Sam Klebanov
26 April 2024
less than 3 min read
The insomniac cabbie from Taxi Driver might soon have another self-destructive activity to occupy the wee hours—loading up on meme stocks in real time. The New York Stock Exchange (NYSE) recently asked market participants to share how they’d feel about trading 24/7.
The tradition-shattering proposal by the world’s busiest stock exchange, which operates from 9:30am to 4pm ET Monday–Friday, would make stocks no different from other assets that never stop trading, like crypto and government bonds.
The NYSE’s curiosity comes as the startup 24 Exchange, backed by Mets owner Steve Cohen, is seeking SEC permission to launch a round-the-clock stock exchange. 24 Exchange wants to cater to the growing contingent of amateur investors, some of whom prefer to trade after their kids go to bed.
If the NYSE decides to become an exchange that never sleeps, it’d likely upend the day-to-day of the pros on Wall Street. So, let’s consider what 24/7 trading would look like, who’d be in the green, and who’s kept up at night by the prospect.