The New York Stock Exchange will expand its after-hours trading.

The New York Stock Exchange declared on Friday that it would be extending its all-electronic trading to 22 hours a day.

The NYSE has announced "24/5 trading," open from 8 p.m. ET on Sundays through 8 p.m. ET on Fridays, in May 2023. Meanwhile, global cryptocurrency markets trade 24 hours a day, seven days a week.

The NYSE Arca electronic exchange will open at 1:30 a.m. and close at 11:30 pm ET on weekdays, subject to regulatory approval. Currently, extended trading on the NYSE on stocks starts at 4 a.m. ET and goes until 8 p.m. ET, with normal trading hours being 9:30 a.m. to 4:00 p.m.

The NYSE Arca platform is highly regarded for trading exchange-traded funds and over 8,000 U.S.-listed securities. Intercontinental Exchange announced that all U.S.-listed stocks, ETFs, and closed-end funds will be available for trading during the 22 hours on the electronic exchange.

"The NYSE's initiative to extend U.S. equity trading to 22 hours a day, 5 days a week highlights the strength of our U.S. capital markets and the growing demand for our listed securities worldwide. As the guardian of the U.S. capital markets, the NYSE is thrilled to be at the forefront of facilitating exchange-based trading for our U.S.-listed companies and funds to investors across different time zones."

The NYSE intends to submit revised guidelines for extended trading to the Securities and Exchange Commission, and trades executed during these hours will be processed through the Depository Trust & Clearing Corp.