Nasdaq to Launch 24-Hour Trading in the Second Half of Next Year

Conference at Yeouido on the 19th

The Nasdaq Stock Exchange is set to attract Korean retail investors ahead of launching its 24-hour trading service in the second half of next year.

According to the financial investment industry, Nasdaq will hold a conference titled 'Unlocking the Potential of the U.S. Market' on the 19th at the Conrad Hotel in Yeouido, Seoul, targeting overseas stock managers from domestic securities companies. Attendees will include Garrick Stabbrowicz, Head of Nasdaq Data Products, among others. Topics will cover the demand for 24-hour, five-days-a-week trading in Asia and the evolving role of index providers amid the growth of the passive investment market. The event is largely seen as Nasdaq seeking to build partnerships with domestic securities firms in preparation for the expansion of trading hours next year.

Nasdaq has been pursuing plans to extend its trading hours to 24 hours a day starting in the second half of next year. Currently, the regular trading hours for the two major U.S. exchanges, the New York Stock Exchange (NYSE) and the Nasdaq Stock Exchange, are from 9:30 a.m. to 4:00 p.m. Eastern Time on weekdays (10:30 p.m. to 5:00 a.m. the next day, Korea time). Pre-market and after-hours trading occur before and after the regular session.

Nasdaq's decision to hold an event in Korea is analyzed to be due to the growing influence of Korean retail investors in the U.S. stock market. Tal Cohen, President of Nasdaq, stated, "Thanks to the expansion of investment opportunities, more and more investors in the Asia-Pacific region are turning their attention to the U.S. stock market."

By Maeng Jinkyu maeng@hankyung.com