Poll comes as US regulators review Steve Cohen-backed proposal for a 24/7 exchange
The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse. The survey by the NYSE, part of Intercontinental Exchange, was put out by its data analytics team rather than its management, but it highlights the growing interest in trading the likes of Nvidia or Apple overnight between 8pm and 4am eastern time.
It also asked whether people agreed that “time spent thinking about overnight trading would be better spent on regular market hour trading”. The survey comes as start-up 24 Exchange, backed by Steve Cohen’s Point72 hedge fund, is seeking SEC approval to launch the first round-the-clock exchange. The filing is the second attempt for 24X, which withdrew a proposal last year over operational and technical issues. As of Friday, there were no letters raising issues with 24X’s latest proposal.
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