Nasdaq set to introduce night trading
The National Association of Securities Dealers said that it will begin preparations for a second session of trading that will run from 5.30pm to 9 or 10pm. It set no timetable for the introduction of the new session, but officials suggested it was likely to debut in September.
The move may force the hand of the New York Stock Exchange, which in recent days has also been mulling plans for extended trading hours. Both the NYSE and the Nasdaq have found themselves robbed of business because of the amount of trading done after-hours over the Internet. The exchanges are also facing competition from private electronic trading systems.
The changes will have to win approval from the Securities and Exchange Commission. SEC chairman, Arthur Levitt, has already said he will not stand in their way though he would rather that the new hours were not introduced until next year. Time is needed for the industry to prepare, he said.
- 1 Rape threats, death threats and a police investigation after video poking fun at an Islamic Party in Malaysia goes viral
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Gamers confess the worst things they've done in The Sims
- 4 6-year-old writes ice cold Valentine's card to his stepmother
- 5 Syrian child photographed 'surrendering to camera because she thought it was a gun'
Rape threats, death threats and a police investigation after video poking fun at an Islamic Party in Malaysia goes viral
Why Robin Williams safeguarded himself against a morbid trend in advertising
Ohio Democrat Teresa Fedor speaks out during abortion debate to reveal she has been raped – and is interrupted by laughter from Republicans
Jeremy Clarkson to become 'special adviser on transport' to David Cameron
Exploding head syndrome: One-fifth of US college students suffer from ailment, study finds
Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
Revealed: Putin's army of pro-Kremlin bloggers
Katie Hopkins reported to the police for race hatred by Labour MP Simon Danczuk after tweet about Pakistani men
iJobs Money & Business
£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...
£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...