Nasdaq Proposes Earlier Start to U.S. Pre-Market Stock Trading
Nasdaq OMX Group Inc., the second- biggest U.S. exchange operator, said it plans to start pre- market stock trading earlier in the day.
Trading will begin at 4 a.m. New York time, instead of 7 a.m., according to a Feb. 12 statement. The change will happen no earlier than March 18, subject to approval by the U.S. Securities and Exchange Commission.
Nasdaq is seeking to attract more trading after U.S. equity volume declined for a third straight year in 2012. The exchange is expanding into derivatives, setting up a new London-based market and buying a 25 percent stake in a Dutch alternative trading system focused on stocks and equity derivatives.
Average daily volume for equities listed on all U.S. exchanges was 6.07 billion shares in the fourth quarter, 18 percent less than a year earlier, according to data compiled by Bloomberg.