Charles Schwab Rolls Out 24/5 Trading, ETF Store President Says 'You May Not Like It But...'

Charles Schwab SCHW is set to expand retail trading hours for stocks and ETFs to 24 hours a day, five days a week (24/5), bringing traditional finance (TradFi) a step closer to the accessibility of decentralized finance (DeFi).

Nate Geraci, President of ETF Store, highlighted this shift in a recent post on X, stating, “Schwab expanding retail trading on stocks & ETFs to 24hrs, 5 days a week… You may not like it, but tradfi slowly moving towards defi hrs. Full securities tokenization the longer-term end state.”

The move, which echoes a long-term trend toward tokenization, will allow Schwab’s retail clients to trade a wider range of securities, including companies in the S&P 500, Nasdaq-100, and hundreds of ETFs.

The initiative builds on Schwab's October 2024 announcement, in which the brokerage firm outlined its plans to extend overnight trading access. Currently, Schwab facilitates approximately six million daily average trades and manages $9.92 trillion in total client assets. With this expansion, retail investors will have increased flexibility to react to global market developments in real time.

Also Read: Cboe Global Markets Announces Plans For 24-Hour Stock Trading

Ameritrade pioneered 24/5 trading in 2018 as the first U.S. retail broker-dealer to offer overnight trading through its thinkorswim platforms. Schwab acquired Ameritrade in 2020, inheriting its commitment to extended-hour trading.

Until now, retail clients on the thinkorswim platform had access to approximately two dozen ETFs during overnight sessions.

Schwab had announced last year that it will begin piloting expanded overnight access with a select group of clients. It will gradually roll out full access in 2025. The brokerage already offers pre-market and post-market extended hours trading across its platforms. Additionally, futures, options on futures, and forex trading are available to clients with approved accounts via thinkorswim.

The move comes amid a growing appetite for around-the-clock trading, mirroring the continuous operations of cryptocurrency markets. With increased adoption of digital assets, some analysts see Schwab's expansion as a step toward fully tokenized securities. The bet is that this would enable real-time, global trading with fewer barriers. By increasing trading flexibility, Schwab aims to cater to evolving investor preferences.

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