The U.S. Securities and Exchange Commission announced a public roundtable to examine how American stock markets could operate continuously, 24 hours a day and seven days a week. The roundtable is scheduled for September 17 and will bring together major financial institutions to discuss the risks and benefits of extended trading hours.
SEC Chair Paul Atkins will deliver opening remarks at the event, alongside Jamie Selway, Director of the SEC's Division of Trading and Markets. Twenty-seven traditional finance firms will participate across three panel discussions.
Industry Participants
The attendees represent major segments of Wall Street, including:
- Panel one: Robinhood, NYSE, Blackrock, Virtu Financial, Cboe, BNY Pershing, UBS, FINRA, and Bruce Markets
- Panel two: Jane Street, State Street, Samsung, Charles Schwab, Nasdaq, Interactive Brokers, DTCC, Exegy, and MEMX
- Panel three: OTC Markets Group, BNP Paribas, 24X, Invesco, Citadel Securities, Drivewealth, Blue Ocean, Citi, and ModernIR
According to the SEC, 18 of the 27 participating firms have direct involvement with cryptocurrency, digital assets, or blockchain technology.
Balancing Opportunity and Risk
SEC Chair Atkins previously stated his vision for the initiative, saying: "With the expansion to overnight trading, I'm excited at the prospect of U.S. equity markets aligning with those markets that already trade continuously and look forward to balancing round-the-clock trading with all-important investor and customer protections."
The roundtable discussions will likely address challenges associated with continuous trading, including reduced market liquidity during off-hours periods, which could widen bid-ask spreads and affect market depth.
