24-Hour Trading on Weekdays Coming Up
Please note Robinhood to Launch 24-Hour Trading on Weekdays in Stocks and ETFs
Robinhood said Wednesday that it will offer 24-hour trading of selected stocks and exchange-traded funds, five days a week. The move is part of a growing push in parts of the financial industry to expand trading beyond traditional Wall Street operating hours.
The brokerage plans to allow round-the-clock trading between 8 p.m. ET Sunday and 8 p.m. ET Friday in 43 securities, including some popular stocks such as Amazon.com, Apple and Tesla.
Robinhood will begin to roll out the feature next week, and all customers are expected to have it by June, the company says. Over time Robinhood plans to make more stocks and ETFs available for overnight trading, Chief Executive Vlad Tenev said in an interview.
Robinhood will route customers’ nighttime stock orders to Blue Ocean, a trading platform that runs a special session between 8 p.m. and 4 a.m. ET. Other U.S. brokers that offer overnight trading use Blue Ocean as well. Electronic market-making firms such as Jane Street Group and Virtu Financial take the other side of investors’ orders on Blue Ocean, and seek to profit by buying stocks for a slightly lower price than they sell them for.
24×7 Will Follow
24 hours seven days a week is sure to follow.
Market makers will soon be able to profit on trading imbalances skimming pennies off every trade seven days a week. Billions of dollars in profit are there for the taking.
But we need more excitement. How about 2-hour options? Single day options are no longer exciting enough.
Cynicism aside about 24 hour stock market gambling, it’s really the next logical step. Casinos already offer the same.
This post originated at MishTalk.Com
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Mish
great article
Putting all your eggs in one basket is a bad idea, especicially where security is concerned.
The ruling, written by Justice Neil Gorsuch, protects the authority of states to enact laws to protect the health and welfare of the public even if the measures have impacts out of state. Groups that back California had warned that a broad ruling against it could limit states’ authority to enact laws about a wide variety of issues, including measures to address climate change, such as by efforts to reduce reliance on fossil fuels by promoting renewable energy.
“While the Constitution addresses many weighty issues, the type of pork chops California merchants may sell is not on that list,” Gorsuch said.
chops California merchants may sell is not on that list,” Gorsuch said.