Tradeweb CEO Billy Hult anticipates that 24/7 trading will become standard practice across financial markets. In a letter published on Thursday, Hult highlighted the growing momentum behind the concept on Wall Street. Tradeweb operates a rates and credit trading platform, which handles around $2.9 trillion in average daily trading volume. Hult projects that 2026 will mark a turning point for tokenisation, resulting in faster settlement times and broader access for investors. According to Hult, the fusion of digital and traditional finance will fundamentally reshape financial markets.
The comments from the head of a key financial market infrastructure provider highlight the increasing acceptance of 24/7 trading. Nasdaq is seeking regulatory approval for 23-hour-a-day, five-day-a-week stock trading. Major brokerages, including Robinhood and Charles Schwab, and exchange operator Cboe Global have also extended stock trading hours in recent years.
While continuous trading could lower investment barriers, critics caution that reduced overnight liquidity may cause price distortions, increasing investors’ vulnerability to sudden market movements. Trading firms may need to increase staffing and operational costs to react immediately to market-moving events. Foreign ownership of U.S. securities reached $30.9 trillion as of June 2024, according to Treasury Department data.
A recent study by Carnegie Mellon University and Rice University found that near-continuous trading is most effective for large, highly liquid markets, while less active markets perform better with longer breaks. These findings point to the complexities of implementing 24/7 trading across diverse market conditions.
