Moomoo introduces 24-hour US trading in Singapore and Australia
By Leandra Monteiro
moomoo, a digitalised financial services platform, announced the introduction of 24-hour US trading in Singapore and Australia.
With this it enables investors to trade over 100 selected US stocks and Exchange Traded Funds (ETFs) 24 hours a day, five days a week.
This move, a first in both Singapore market and Australia market, marks a significant extension of the global technology platform’s capabilities and opens up new opportunities for investors who want to trade outside of regular US trading hours, which inconveniently coincide with late nights for APAC investors.
With the introduction of this new feature, moomoo users now have access to trading hours that cover the entire day, from 10 AM Monday to 10 AM Saturday (AEST) and from 8 AM Monday to 8 AM Saturday (SGT). This means that investors in both Singapore and Australia will be able to trade a list of more than 100 US stocks and ETFs, both day and night. This initiative by moomoo will offer investors greater flexibility to trade based on market-moving events that happen outside of regular trading hours.
“As a leading tech-driven investment platform committed to delivering holistic investment solutions to make investing easier and not alone, we will continue tailoring our products and services to suit the market’s evolving needs. Offering keen investors to trade on US market round-the-clock is definitely a game-changing breakthrough to capture investment opportunities on any occasion,” said Gavin Chia, Managing Director of moomoo Singapore.
“Moomoo has access to market makers that provide live prices 24 hours a day, five days a week. So, you can take advantage of market moves during Australian hours and while the US is asleep. You get instant trade confirmation, without the need to wait 24 hours to see whether you have dealt or not,” explained moomoo Australia, Chief Market Strategist, Matt Wilson.
The extended trading hours allow moomoo users greater access to the US market, which is critical for those looking to diversify their portfolios and capture potential opportunities for growth, without having to incur stock switching fees.
IBSi Daily News Analysis
September 21, 2023
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