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Behind the Money

Can NYSE stay up all night?

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4350 Ratings

🗓️ 12 February 2025

⏱️ 19 minutes

🧾️ Download transcript

Summary

The New York Stock Exchange wants to get in on a growing trend amongst investors: overnight stock trading. The largest exchange in the world recently submitted a proposal to allow shares to trade for 22 hours a day. US markets editor Jennifer Hughes looks into the thorny questions this proposal raises about how equity markets function. 


Clips from New York Stock Exchange 


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For further reading:

Is Wall Street ready to stay up all night?

US regulators approve first round-the-clock stock exchange

What does Robinhood want to be when it grows up?

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Follow Jennifer Hughes on X (@jennhughes13). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more. 


Read a transcript of this episode on FT.com



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Transcript

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0:00.0

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0:28.7

as of February 6.25. The New York Stock Exchange is an institution. It is one of the most famous exchanges in the world. It's got this

0:39.5

long history. It's got this big building downtown. And of course, it's got that bell.

0:50.1

Every weekday, Monday to Friday at 9.30 a.m. A bell rings to mark the start of the main trading day.

0:57.6

It signals that the market is open. Stocks begin trading, companies like Coke, Apple, and investors from big institutions to tiny retail traders sitting on their couch at home, they're all connected to this.

1:10.4

Each day, around $130 billion worth of stock is traded on the NYSE.

1:15.9

It's the largest exchange in the world.

1:18.8

And to mark the end of the main trading day, the bell rings again at 4 o'clock in the afternoon.

1:26.2

These bells, they've been ringing like this for a long time.

1:30.3

So company executives who love their history, they dream about standing on that balcony over that trading floor and ringing the opening bell at this institution, which basically helped form corporate America.

1:42.3

Recently, though, the people who run the exchange have been considering making a big change.

1:48.4

They proposed extending that day of trading stocks late into the night.

1:54.5

But actually, making overnight trading a reality is going to be quite the challenge.

1:59.8

It's just a massive undertaking.

2:02.7

Think about the computers, the systems, the complexities of all these trades.

2:07.7

There's a lot that could go wrong.

2:09.9

So why does the New York Stock Exchange want to stay up all night?

2:18.4

I'm Mikhaila Tendera from The Financial Times. I'm Mikhailo Tendara from The Financial Times.

...

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