* LSE 24 will run alongside main market
* The separate venue will initially offer exchange-traded
products
* Equities could trade on LSE 24 in future, LSE CEO said
(Updates to add comments from LSE CEO in paragraphs 4-5, 8-9;
operating hours in paragraph 10)
LONDON, July 21 (Reuters) – The London Stock Exchange
on Tuesday announced plans to launch LSE 24, a
night-time trading site for some exchange-traded products, in
the first half of 2027, a move that could pave the way for
round-the-clock equities trading in the future.
Traditional exchanges have been grappling with the growth of
cryptocurrencies and other assets, which are not restricted by
conventional opening hours and have raised expectations,
particularly among retail traders, of being able to trade at any
time.
LSE’s new exchange will operate separately from its main
market and will initially offer access to exchange-traded
products such as funds tracking the UK or U.S. stock markets.
Julia Hoggett, CEO of the London Stock Exchange, said that
other securities, such as equities, could be traded on LSE 24 in
the future.
“We certainly envisage that would be the next step,” she
said. “You could see a version of the world where LSE 24 trades
exactly the same securities that the main market trades.”
The Financial Times first reported details of the new
exchange on Monday.
Nasdaq plans to extend trading to 23 hours on
weekdays in December, and CME rolled out 24×7 trading of
crypto futures and options in late May. Cboe,
meanwhile, plans to launch 23×5 trading of U.S. equities on its
EDGX Equities Exchange in December.
LSE’s new exchange would aim to service the growing demand
from domestic retail investors, as well as international
institutional clients, particularly from Asia, Hoggett said.
“We have a lot of member firms who are in Asia who
increasingly have appetite to continue to trade the securities
that they have access to on our market,” she added.
LSE 24 will operate from 5 p.m. to 7:50 a.m. London time,
with a 30-minute pause between 6:30 p.m. and 7 p.m. to apply
end-of-day processes. The main market will continue to operate
under its standard hours of 8 a.m. to 4:30 p.m.
Reuters provides news for LSEG’s news and data terminal,
Workspace, and other products.
(Reporting by Samuel Indyk in London, Fabiola Arámburo in
Mexico City and Shashwat Awasthi in Bengaluru
Editing by Shailesh Kuber, Sonali Paul, David Goodman and Joe
Bavier)
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