So, will Wall Street never get close from now on? Well, it seems like that! Reportedly, NYC Aims for 24/7 Trading. Recently, the authorities and board members hosted a survey and asked for opinions from the entire list of trading participants. However, few of the members responded that the NY Stock Market is Copying Crypto. Others stated that it could be a revolutionary era for the US Stock Market.
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NYSE Aims for 24/7 Trading
Previously, New York hinted that are going to employ AI in Wall Street Banks. Now, they are planning to transform the entire landscape of the NY Stock Market. However, currently, the analytics team is exploring whether they can go for this possibility or if it is just an unachievable dream.
The Financial Times has reported that the NYSE asked all the participants for their opinions about the 24-hour trading schedule. Plus, they are referring to it as a Crypto Market schedule. Whereas, until today, NYSE was following the 18th-century trading tradition, where initially, the exchange of shares started the bell-ringing ceremonies. And then later on, after a few decades, it shifted from 9:30 in the morning to 4:30 pm. And NYSE Aims for 24/7 Trading.
Trading Limitations and Challenges
With the passage of time, tons of new assets and digital businesses have been introduced. Such as cryptocurrencies, bonds, or futures. Simultaneously, all of these trades happen around the clock without being restricted by any hour. Whereas the NY Stock Market has still stuck to its roots.
Whereas a certain amount of pre and after-market hours exist, they come with elite transaction fees. Perhaps this idea of being active throughout the day, week, or year is equally scary and complicated as it seems fascinating. Along with the opportunities, the NY Stock Market tends to face lots of challenges. From upscaling their ecosystem to enhancing their budgets, teams, catering stock fluctuations, client services, and overnight staff. Is a massive task to deal with as they are already handling thousands of million-dollar clients.
NYSE Aims for 24/7 Trading – “Survey”
So, the survey inquired about the impact on “traditional stock market hours”. Plus, there is a high probability that it might hurt the sentiments of the clients as they will need to be active throughout the week, without any break. Moreover, the audience that has preferred the stock market all of this time over crypto was mainly due to trading hours. And now, apparently, both of the tradings will have the same ethics, which might disappoint a particular audience.
Conclusion!
After the Covid-19 pandemic, the interest towards investing in stocks has increased immersively. People from Europe, Asia, and primarily the United States are insanely investing and establishing their financial assets in the Stock Market. Now, as NYSE Aims for 24/7 Trading, it might raise more concerns and interests among people from all across the States. As it can easily reshape the future of NYSE.
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