Round-the-clock dealings in securities, bonds, and currency. In practice, it is not normally carried out from any one office of a securities house; instead, the dealers in one time zone pass on their position to associates in another time zone. Thus, a London office may pass its position to its New York office, which is passed, in turn, to Tokyo, and back to London. Twenty-four-hour trading has been encouraged by the rise in cross-border share trading.
Subjects: Financial Institutions and Services.