The New York Stock Exchange is set to extend weekday trading on its NYSE Arca equities exchange to 22 hours a day according to a press release from Intercontinental Exchange, Inc.
"The extended trading would take place from 1:30 am to 11:30 pm Eastern Time on all weekdays, excluding holidays, subject to regulatory approval," the release said. They will also seek backing for extended trading from U.S. securities information processors.
NYSE Arca is a fully electronic exchange. All US-listed stocks, ETFs, and closed-end funds will be accessible for trading on NYSE Arca throughout the 22-hour weekday sessions.
“The NYSE's initiative to extend US equity trading to 22 hours a day, 5 days a week underscores the strength of our US capital markets and growing demand for our listed securities around the world,” Kevin Tyrrell, head of markets of NYSE said. “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."
The NYSE also reported that it will file updated rules with the US Securities and Exchange Commission, or SEC, for the extended trading hours. Trades executed on NYSE Arca during these extended hours will still be cleared by the Depository Trust & Clearing Corporation, which has recently announced plans to extend its own hours of operation.
ICE provides financial technology and data services for different asset classes, offering tools that are expected to improve transparency and efficiency in financial processes for their clients. The firm also designs, builds and operates digital networks that connect clients. It also has futures, equity, and options exchanges including the New York Stock Exchange and clearing houses. It operates some of the largest markets for trading and clearing energy and environmental products.
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