Tiger Brokers introduces 24-hour US stock trading for Kiwis
In a New Zealand first for digital investment platforms, Tiger Brokers has launched a 24-hour trading feature for US stocks and exchange-traded funds (ETFs). The initiative is a response to the increasing interest of Kiwi investors in trading US stocks such as Nvidia, Tesla, and Apple. This enhanced feature provides investors not only with access to more than 500 popular US stocks and ETFs around the clock without additional fees but also unprecedented flexibility and seamless access to the US markets.
The new element, which was rolled out this week, establishes Tiger Brokers as the first brokerage firm in New Zealand to offer uninterrupted US stocks trading, 24 hours a day, 5 days a week. This is a significant move from the company as it marks its tenth year in the industry, and continues to find innovative ways to provide tools and services for do-it-yourself investors to enhance their trading experience and overcome traditional trading hurdles.
Tiger Brokers has previously offered US pre- and post-market trading services. The new US overnight trading session allows uninterrupted 24-hour trading and will operate from 8 pm to 4 am US Eastern Daylight Time, translating to midday to 8 pm New Zealand Standard Time. This extended trading period gives Kiwi investors further opportunities to participate in the market. Additionally, Tiger Brokers provides access to essential market data such as overnight trading charts and order books, as well as a depth of market on Tiger Trade during the overnight session.
In relation to the 16-hour time difference between New Zealand and the eastern United States, Greg Boland, Chief Strategy Officer at Tiger Brokers New Zealand, underscored the significance of overnight trading. He stated, "Our data reveals that the number of views for popular US stocks during the overnight trading hours was approximately 20% of the views during regular trading hours. This highlights investors' tendency to research US stocks outside traditional trading hours and prepare for transactions during evenings or early mornings."
Elaborating on the advantages of round-the-clock trading, Boland went on to say, "With the global market evolving rapidly, overnight trading transcends time constraints, enabling investors to seize opportunities in response to market conditions at any time. This feature is particularly useful for investors in the Asia-Pacific region, enabling them to effortlessly participate in US stock trading alongside their daily work and investment activities."
He further added, "There is no denying the impact of advancing technology and introduction of cryptocurrencies, prompting discussions about extending trading hours for traditional stock markets. Recently the NYSE, based in the city that never sleeps, announced it is contemplating a move towards 24/7, 365 stock trading to keep up with crypto markets. For Tiger Brokers, introducing overnight trading via our platform allows our New Zealand based users to access US markets during our afternoon and early evening."
