Prof G Markets: Tesla’s Terrible Earnings, the FTC’s Noncompete Ban, and 24/7 Trading at the NYSE
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Innovation
The New York Stock Exchange's consideration of 24/7 trading is seen as a move to stay competitive with the crypto market and platforms like Robinhood. suggests that this shift could increase trading volume and attract more international investors, particularly from Asia 1. However, he raises concerns about the potential for increased volatility and the loss of a cooling-off period that current trading hours provide. reflects on the broader implications of this change:
It just feels like the financialization of everything. I think it was coming, it's hard to argue against it, but personally I don't like it.
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This move could also lead to a more hectic trading environment, impacting both traders and the market's stability.
Culture
The cultural implications of 24/7 trading extend beyond the market to the lifestyle of financial workers. notes that constant market activity could erode the work-life balance of those in the financial sector, likening it to the shift from linear TV to streaming services 2. This change might necessitate the use of AI to manage the increased workload, potentially altering job roles and responsibilities. humorously speculates on the impact of this shift:
What happens when traders start getting ridiculously high and they can trade at 02:00 a.m. because who knows, they might do better.
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Ultimately, while the market may favor increased liquidity, the human cost could be significant.
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