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2025-02-12 06:18
Charles Schwab (NYSE:SCHW) is expanding overnight trading to all of its retail clients, according to a media report on Tuesday, as it seeks to profit from increased stock trading activity amid elevated prices.
The company's retail clients will be able to trade a wider selection of securities 24 hours a day, five days a week, Bloomberg reported, citing a company statement.
The announcement follows a pilot program, in which about 80K clients had access to 24-hour trading from November through January.
Schwab is moving into the extended hour trading space after Robinhood Markets (HOOD) and Interactive Brokers Group (IBKR) made the move last year.
During Schwab's pilot, the most active trading hours of the extended session were between 8PM and 9PM New York time and 3AM-4AM, Bloomberg reported.
Schwab (NYSE:SCHW) shares edged up 0.1% in after-hours trading.