Day-one contracts under $100,000; December equities expansion ahead
The New York Stock Exchange on Monday began offering two new extended-hours trading sessions for 25 single stocks and five exchange-traded funds, adding pre-market and post-close windows for a group of heavily traded names.
The pre-market session runs from 7:30 a.m. to 9:25 a.m. EDT, and the post-close session runs from 4 p.m. to 4:15 p.m. EDT, according to the exchange. Nvidia, Alphabet, Amazon, Oracle and Bank of America are among the 25 single stocks eligible for trade during the expanded windows.
Kevin Tyrrell, chief product officer for the NYSE, tied the change to broader shifts in how markets operate. “Markets have changed tremendously over the years, and that kind of progress only happens when you keep investing in your technology,” Tyrrell said in a statement. “Extended trading hours for options reflects market demand for investment opportunities and reliable risk management during a longer period of time, and as we look ahead to bringing the same approach to equities in December, we’ll continue to treat innovation as the foundation for growth.”
Demand for extended-hours trading has continued to grow. CBOE research cited by UPI found that extended-hours activity has averaged 199,000 contracts per day, with appetite for a 24-hour trading cycle tied in part to technological innovations such as cryptocurrency exchanges.
Day one of the new extended-hours sessions was not remarkably active. Less than $100,000 in contracts changed hands during the launch, according to UPI.
The Monday launch is an initial step. Tyrrell said the exchange would bring the same approach to its broader equities market in December.