US regulator opens path to 24-hour stock futures

US regulators approved continuous trading of equity futures on US-registered exchanges on Tuesday, moving round-the-clock stock-linked trading closer to the mainstream.

Michael Selig, a commissioner at the US Commodity Futures Trading Commission, said the action opens trading for perpetual futures contracts on individual shares.

The decision could allow higher-volume trading in securities tied to underlying stocks outside the traditional New York Stock Exchange and Nasdaq session, which runs from 9:30 am to 4 pm in New York.

Intercontinental Exchange, which owns the New York Stock Exchange, announced last week that it planned to bring perpetual trading onshore in the United States, subject to regulatory approvals. Its venture with Trade{XYZ} is aimed at retail traders seeking short-duration exposure around the clock across crypto, equities, commodities, foreign exchange and other assets.