I agree that 24/7 markets would represent a big behavioral shift, more than the tech upgrade required. And it is true, open just means available, and not ncessarily stable.
Certainly, most moves will be captured by intelligent algorithms that will be able to identify and parse news well enough to define a reaction. And then, most liquidity-seeking algorithms will just sense unusual volume showing up and will follow along. I believe it will take a couple of years before hedge funds will have around-the-clock portfolio managers.
I agree that 24/7 markets would represent a big behavioral shift, more than the tech upgrade required. And it is true, open just means available, and not ncessarily stable.
And also the chance for instability as markers will start to react to current events in real time without the pause to reset.
Certainly, most moves will be captured by intelligent algorithms that will be able to identify and parse news well enough to define a reaction. And then, most liquidity-seeking algorithms will just sense unusual volume showing up and will follow along. I believe it will take a couple of years before hedge funds will have around-the-clock portfolio managers.