Why NYSE Is Really Building 24/7 Stock Trading

The 240-Year-Old Giant Blinks First

The New York Stock Exchange, which has operated on a 6.5-hour, five-day schedule for over two centuries, is preparing to break its own rules. The reason? It can no longer ignore the $2.3 trillion crypto market that never sleeps.

"We've felt the responsibility to enter into the tokenization conversation," NYSE President Lynn Martin said at the World Liberty forum in Palm Beach Wednesday. Translation: We're losing the war against 24/7 digital markets.

When Tradition Meets Disruption

The NYSE has already developed tokenization technology and is working with regulators to launch blockchain-powered trading of stocks and ETFs later this year. This isn't just about extending trading hours—it's about fundamentally reimagining how securities change hands.

Tokenization promises faster settlement, programmable financial products, and the kind of always-on accessibility that crypto traders take for granted. But it also represents a massive shift for an institution that has thrived on controlled scarcity and limited trading windows.

Commodity Futures Trading Commission Chairman Michael Selig, speaking on the same panel, signaled regulatory openness: "We stand ready to build with the incumbents, new entrants, old technologies, new technologies." A far cry from previous administrations that "discouraged" such innovation.

The Winners and Losers Emerge

Who benefits when Wall Street goes 24/7?

Individual investors get the obvious win—no more waiting for Monday morning to react to weekend news, no more missing opportunities during Asian trading hours. For global investors, time zones become irrelevant.

Institutional players face a trickier calculation. Always-on markets mean always-on risk management, higher operational costs, and potentially more volatile price discovery. The traditional advantage of having "market hours" to plan and strategize disappears.

Crypto exchanges might find their key differentiator—24/7 availability—suddenly commoditized by traditional finance.

The Regulatory Tightrope

Martin's reference to learning from "challenges" and past "stress points" hints at the real concern: Can traditional market infrastructure handle the intensity of round-the-clock trading?

The 2010 Flash Crash, the GameStop saga, and various circuit breaker incidents all happened during regular trading hours with established safeguards. What happens when those safeguards must operate continuously across global time zones?

Regulators are clearly trying to balance innovation with stability, but they're walking into uncharted territory where traditional risk models may not apply.