Oct. 19 (UPI) — The New York Stock Exchange announced Monday that it is extending its trading hours for heavily traded stocks.
The NYSE is extending its hours starting Monday, opening two new trading sessions from 7:30 a.m. to 9:25 a.m. EDT and 4 p.m. to 4:15 p.m. EDT. Twenty-five single stocks and five exchange-traded funds will be able to trade during extended hours.
Major titles that will have expanded commercial availability include Nvidia, Alphabet, Amazon, Oracle and Bank of America.
“Markets have changed tremendously over the years, and this kind of progress only happens when you continue to invest in your technology,” Kevin Tyrrell, NYSE chief product officer, said in a statement. “Extended trading hours for options reflect market demand for investment opportunities and reliable risk management over a longer period of time, and as we plan to take the same approach for stocks in December, we will continue to view innovation as the foundation for growth.”
The appetite and demand for a 24-hour trading cycle continues to grow, driven in part by technological innovations such as cryptocurrency exchanges. A CBOE study found that extended trading hours are more popular than ever, with 199,000 contracts traded on average each day.
The first day of the NYSE’s new extended hours was not particularly active, with less than $100,000 worth of contracts transferred.
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