The stock market's traditional 9:30-to-4 trading day, marked by opening and closing bells dating back to the 1870s, is becoming outdated. This model is becoming as obsolete as the headsets still used on the New York Stock Exchange floor.
Wall Street is quickly adopting the nonstop approach seen in cryptocurrency and prediction markets to meet the expectations of a new generation of retail traders who favor round-the-clock activity.
"A shift toward round-the-clock trading represents the most fundamental change to market structure since electronic trading replaced the trading floor."
This transformation is fueled by a surge in retail investor participation, now making up at least 20% of daily U.S. trading volume, along with a global interest in trillions of dollars worth of American equities.
"Retail investor participation now accounts for at least 20% of daily U.S. trading volume and a global appetite for the trillions of American equities."
A version of this article originally appeared in Quartz’s members-only Weekend Brief newsletter, providing exclusive insights to subscribers.
Author's summary: Stock exchanges are transforming traditional trading hours by moving toward 24/7 markets, driven by retail investors’ growing demand and evolving global investment trends.