- Intercontinental Exchange CEO Jeffrey Sprecher said the company is working to match rivals on crypto and around-the-clock trading.
- Robinhood has launched 24/7 trading of selected stocks and ETFs and is offering tokenized U.S. equities and ETFs on Arbitrum for EU customers.
- NYSE plans to extend weekday trading on its NYSE Arca exchange to 22 hours daily; Nasdaq has sought approval for 23-hour trading five days a week.
- Sprecher said stablecoins have “dollarized the world,” prompting central banks to consider similar digital currencies.
- Retail sentiment around ICE trended bearish despite ICE shares rising about 18% year over year and Robinhood shares rallying more than 200%.
Intercontinental Exchange Chief Executive Jeffrey Sprecher said on Monday the company is trying to catch up with firms like Robinhood on crypto services and 24/7 trading after recent market moves. He made the remarks at the Rotary Club of Atlanta, citing overseas demand for U.S. stocks and the rise of continuous trading platforms as drivers of change.
Sprecher noted regulatory limits on the traditional stock market, saying “New York Stock Exchange, by law, has to close the stock exchange at four in the afternoon.” He added that new entrants created nonstop markets, stating “These innovators have created twenty-four by seven markets, twenty-four by seven capital movements, and we’re trying to catch up, much like the regulators, and figure out what this means for our business.”
On stablecoins, Sprecher said they have “dollarized the world,” being denominated in U.S. dollars and prompting central banks in Europe, the U.K., and China to explore similar digital currencies. Last year, Intercontinental Exchange signed a memorandum of understanding with Circle to explore integrating Circle’s stablecoin products into its trading and clearing operations.
Market players are already moving: NYSE plans to expand NYSE Arca weekday hours to 22 hours per day, while Nasdaq has filed for about 23-hour trading five days a week with the U.S. securities regulator. Robinhood has rolled out 24/7 trading for selected stocks and ETFs and introduced tokenized U.S. equities and ETFs on Arbitrum for its EU clients. Its CEO said, “Tokenization will unlock 24/7 markets, and once people experience it, they’ll never go back.”
Retail discussion around ICE skewed bearish amid high message volume. Over the past year, ICE shares have risen nearly 18%, while Robinhood shares have gained more than 200%. For contact, the original item included an option to Add us on Google.
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