The genie is out: 24-hour trading gaining momentum, Interactive Brokers chairman says
(Reuters) -Interactive Brokers Chairman Thomas Peterffy on Thursday said 24-hour trading has become more acceptable, calling it a genie that is hard to put back into the bottle, at the Piper Sandler Global Exchange & Trading Conference.
Global interest in the lucrative U.S. equity market has surged in recent years, driven by rising retail participation, prompting exchanges and financial firms to seek new methods to expand access, particularly by extending trading hours.
"24 hours' trading is obviously very important to many people in the far Middle and near East, much more so than in the U.S. or even in Europe," Peterffy said at the conference.
In May, about 2.2% of Interactive Brokers' volume was done in overnight trading, Peterffy said, adding that he expects the number to rise to 25% to 30% in the next year.
Interactive Brokers launched overnight trading in November 2022, while exchanges like Nasdaq, Cboe Global Markets and Intercontinental Exchange, the operator of the New York Stock Exchange, have announced plans for extended trading hours.
Ken Griffin's Citadel Securities had flagged risks of 24-hour trading to the Securities and Exchange Commission in April, highlighting the need for a clear regulatory framework and market infrastructure to support its implementation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
China is only 3-6 months behind US in AI, Trump official says
WASHINGTON (Reuters) -China is three to six months behind the United States in artificial intelligence, White house AI and crypto czar David Sacks said Tuesday at an event in Washington, warning that excess U.S. AI regulation could damage American innovation in the industry. "China is not years and years behind us in AI. Maybe they're 3-6 months,' said Sacks, speaking at the AWS summit in Washington. "It's a very close race."
Yahoo
28 minutes ago
- Yahoo
US energy loan office should fund oil, gas, White House aide says
WASHINGTON (Reuters) -The U.S. Energy Department's loan office should fund oil and gas infrastructure, a White House aide said on Tuesday. "One of the big problems is, in the past the ... loan program office has been used for a lot of these renewable projects," Jarrod Agen, a deputy assistant to the president and executive director of the National Energy Dominance Council, said at a Politico conference on energy. The Loan Programs Office grew rapidly under former President Joe Biden, thanks to legislation passed during his term, and has hundreds of billions of dollars in loan and loan guarantee capacity. Agen said the administration is changing the priority of the LPO, which is meant to help finance emerging energy projects that show promise but face difficulties getting bank loans. "So, yes, we want to invest more and prioritize projects that are oil and gas-related, nuclear-related," Agen said. President Donald Trump's new energy dominance council has focused on increasing already record-high oil and gas output and cutting climate and pollution regulations on fossil fuels. In his first term, Trump only used the LPO to finance the Vogtle nuclear plant in Georgia. The Trump administration wants to offer tens of billions of dollars in LPO financing over the next two years to projects developing nuclear and geothermal power and minerals used in everything from wind and solar power to weapons systems, according to the White House budget for fiscal 2026. Republicans in the House have pushed to slash LPO's lending. Sign in to access your portfolio
Yahoo
31 minutes ago
- Yahoo
Tata Motors to expand EV and vehicle portfolio with $4.1bn investment
Tata Motors has reportedly announced plans to invest up to Rs350bn ($4.1bn) over the next five years. This substantial investment aims to solidify the company's position in India's rapidly evolving electric vehicle (EV) market and expand its current vehicle lineup. The investment will see Tata Motors nearly double its model offerings from eight to fifteen, including the introduction of additional EVs and compressed natural gas (CNG) vehicles, reported Reuters. The company's investor day presentation also highlighted plans to enhance the technology features of their vehicles. India, currently the world's third-largest car market, is setting the stage for stricter emission norms from 2027 and is targeting EVs to account for 30% of all car sales by 2030. Despite not disclosing its investment plan for the year to March 2026, Tata Motors previously indicated that the domestic businesses, including commercial vehicles, would see a capital expenditure of about Rs80bn. Competition in the combustion engine market is intensifying, with rivals such as Mahindra & Mahindra overtaking Tata in sales. Furthermore, MG Motor has been challenging Tata's dominance in the EV sector with its "Windsor" model, which has outsold Tata's offerings since late last year. Nevertheless, Tata Motors is maintaining its ambitious target of a 16% market share by March 2027, with aspirations to reach between 18% and 20% by March 2030. However, the company reported a 6.15% decline in total sales across domestic and international markets, with 72,753 units sold in April 2025 compared to 77,521 units in April 2024. This downturn includes a 7% drop in domestic sales and an 8% decline in commercial vehicle sales. "Tata Motors to expand EV and vehicle portfolio with $4.1bn investment" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
