And for those of you who can't get enough (that would include me <G>)
The Score Soon: Trading 22, Sleep 2
Just can't get enough of that after-hours, before-hours, whatever-hours trading? Island ECN and the Datek online brokerage are betting on it big-time. They plan to offer trading 22 hours a day and on weekends by next year, an official of their parent company said today.
The first step would be an extension of the current 8 a.m.-to-8 p.m. EDT Island session to midnight-8 p.m., probably within three months, said Edward Nicoll, president and COO of Datek Online Holdings. He was speaking at a Bloomberg online trading conference in New York.
Sometime later, probably next year, Island's session would swell to midnight-10 p.m., Nicoll said. Finally, trading would be extended into the weekend. Nicoll offered no details on the hours of the weekend session.
Datek and Island have no plans to extend the trading day past 10 p.m., as a two-hour break is needed for trade clearing and system maintenance, Nicoll said. The expanded hours are meant to appeal to investors in Asian and European countries, he said.
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