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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (11669)	1/15/1998 2:05:00 PM
From: Moonray	Read Replies (1) \| Respond to of 22053

NYSE chief sees expanded trading hours WASHINGTON (Reuters) - Trading hours on the New York Stock Exchange are expected to expand over the next few years as markets become more globally linked, NYSE Chairman Richard Grasso said late Wednesday. ''There is clearly going to come a time when the mix of trading on the New York Stock Exchange and the types of companies traded will be more heavily weighted to the world's market rather than to the domestic market,'' Grasso said in a speech to the Economic Club of Washington. Although trading was not likely to extend to 24 hours, Grasso said it could increase to 16 to 20 hours a day within the next five to seven years. In addition, trading could be in currencies other than U.S. dollars. The exchange chief said he expects an increase in the number of foreign company listings on the NYSE over the next three years, noting that it ended 1997 with a record total of 343 foreign stock listings. ''We finished 1997 with a record number of non-U.S. companies,'' Grasso said. ''My partners and I believe that three years from now the number will be doubled.'' He said outside of the United States, about 2,700 non-U.S. companies would qualify to list on the exchange. If the top third were to join the Big Board, market value would increase by almost $7 trillion. Grasso said the record volume after last October's 550-point market break was just a preview of things to come. "If 1.2 billion shares becomes an average day, then clearly we will see peak days well in excess of three billion shares." By next year, Grasso said, the NYSE will be able to handle volume of four to five billion shares and in excess of six billion shares three years from now. o~~~ O