Bankers question value of round-the-clock trading
BNY and State Street execs predict the arrival of extended-hours trading will come with a hefty price tag for industry firms.
With near-24/5 trading set to begin at major US exchanges in December, some banks are not exactly eager to participate in extended market hours. Where retail traders see dollars to be made, institutional banks see dollars to be spent.
During a panel discussion at the Technology and Data in Financial Markets conference in Manhattan on September 24, execs from BNY and State Street pondered whether the incoming 23/5 trading—and its natural successor, 24/7 trading—is worth the investment it will
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