Schwab also announces additional enhancements to the Schwab.com, Schwab Mobile, and thinkorswim® trading platforms
HONG KONG, Oct. 30, 2024 /PRNewswire/ -- Charles Schwab, a leader in investing and trading with $9.92 trillion in total client assets that facilitates approximately six million daily average trades, today announced it will begin piloting additional access to the overnight trading session by expanding to include the stocks in the S&P 500, Nasdaq-100 and hundreds of additional exchange-traded funds (ETFs) available for trading 24 hours a day, five days a week (24/5).
Ameritrade, acquired by Schwab in 2020, pioneered 24/5 trading in 2018 when it was the first U.S. retail broker dealer to make it available to traders. Since then, clients using the thinkorswim® trading platforms at Ameritrade and now Schwab have had access to approximately two dozen ETFs in the overnight trading session. Schwab will begin piloting expanded overnight access with a small group of clients and gradually expand to full client access in 2025.
"More than six years after Ameritrade was the first U.S. retail broker dealer to launch 24/5 trading on the thinkorswim platforms, we're proud to see how the overnight market has evolved," said James Kostulias, Managing Director and Head of Trading Services at Charles Schwab. "Our goal has always been to responsibly offer and expand access to 24/5 trading that takes into account client demand, the evolving dynamics of the overnight trading market, and – importantly – providing clients across various time zones with 24-hour support to help balance opportunities, risks, and unique considerations of overnight trading."
Overnight trading is just one way Schwab's clients can engage with the markets outside of standard trading hours. Schwab also offers pre- and post-market extended hours trading sessions across its trading platforms.
"In the decades since we started serving Hong Kong investors, Schwab has built a powerful trading experience for our Hong Kong clients and are a strong leader in this space thanks to the breadth and depth of our platforms, products, local in-market presence and professional support," said Greg Baker, Managing Director at Charles Schwab Asia Pacific. "We are committed to keeping our foot on the pedal and continually innovating to meet Hong Kong traders' rapidly evolving needs. The overnight trading expansion combined with our steady stream of meaningful platform enhancements underscores that unwavering commitment that has always been part of our firm's DNA."
The overnight trading expansion and enhancements reinforce Schwab's position as a leader in serving a wide range of retail investors and traders worldwide, from those just getting started to highly experienced and sophisticated active traders who need a comprehensive suite of platform, product and support capabilities.
To learn more about trading at Schwab, visit www.schwab.com.hk/trading.
Disclosures
Investing in stocks can be volatile and involves risk, including loss of principal. Consider your individual circumstances prior to investing.
Please note that the commissions for trades executed in multiple sessions (i.e., pre-market, regular or after hours) are not aggregated. Extended hours trades will normally settle one business day from the date the order is executed, just like orders placed during regular market hours. Orders placed after 8:05 p.m. ET are eligible for execution once the next Pre-market session opens at 7:00 a.m. ET.
Extended Hours Trading may not be suitable for all investors and poses certain risks. These risks include, but are not limited to, lower liquidity, higher volatility, extended hours pricing not reflective or different than pricing during regular trading hours, impact to price display and execution quality from unlinked markets, news announcements,and wider spreads. To learn more call +1-415-667-7870.
Due to limited liquidity in Extended Hours Trading sessions, there are no assurances that an investor's stock order will be executed.
Extended Hours Trading will not take place on official Exchange holidays or when Exchanges close early. Schwab reserves the right to change or modify hours of operation for Extended Hours Trading at any time. A Schwab Extended Hours Trading session, or any security traded therein, may be temporarily or permanently suspended at our discretion.
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About Charles Schwab
At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity.
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About Charles Schwab Hong Kong
Charles Schwab, Hong Kong, Ltd., is a subsidiary of Charles Schwab Corporation and is registered with the Securities & Futures Commission ("SFC") to carry out the regulated activities in dealing in securities and advising on securities under CE number ADV256. The company currently provides services via its Hong Kong office, its telephone system (+852 2101-0511) and web site (www.schwab.com.hk).
Nothing here is an offer or solicitation of these securities, products and services by Charles Schwab, Hong Kong, Ltd. and Charles Schwab & Co., Inc. in any jurisdiction where their offer or sale is not qualified or exempt from registration.
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