By John McCrank
(Reuters) – Round-the-clock trading, a feature of cryptocurrency markets, is likely to reach US stocks within five years, some retail brokerages and money exchange operators, including Robinhood (NASDAQ 🙂 Markets and Cboe Global Markets (NYSE). 🙂 , said on Thursday.
At Robinhood, nearly three-quarters of the 14 million active monthly users whose frequent investment is in bitcoin conduct their investment research outside of market hours, and want to trade at their convenience, according to chief brokerage Steve Quirk.
“There are a lot of people working odd hours now in the gig economy, and the idea that they have to sit back and see when they can trade or invest is kind of foreign to them,” he said at the Security Traders Association’s annual conference. in Washington.
He predicted that trading stocks five years from now 24/7 would become commonplace, a view widely shared by conference speakers.
“I don’t think it will take five years for customers to have their say around the clock,” Cboe CEO Ed Tilley said in another session.
He said the exchange operator is already operating in markets around the world and has seen a growth in interest in round-the-clock trading as it extended trading hours for its proprietary volatility index-linked products.
The CEO of retail brokerage Webull said that Webull also operates globally and is working on 24/7 trading capabilities to meet the demands of its clients.
Chicago-based market maker Simplex Trading is also anticipating a shift to 24/7 trading and balancing logistical challenges, CEO Eric Swanson said.
“It’s just too stressful for me to think about how to do that, whether it’s on a lot of Red Bull or whether it’s going to be with watching the sunset,” he said.