Prop Trading Split On 24/7 Markets As Firms Weigh Always-On Ambition Against Staffing Reality
Acuiti’s Q3 Proprietary Trading Management Insight Report finds the community almost evenly divided on the merits of continuous trading, with operational staffing and resourcing emerging as the clear number-one concern.
The headline result: proprietary trading firms are evenly split on 24/7 trading. In Acuiti’s latest quarterly survey of senior prop trading executives, 37% were positive (10% very positive; 27% quite positive) while 38% were negative (15% very negative; 23% quite negative), with the remainder neutral. The debate has sharpened as major platform groups float the idea of extended hours and as a CFTC-regulated venue has in the US.
Operational Staffing Tops The Risk List
While the benefits of being able to react to news at any hour are obvious, firms are most concerned about staffing and resource requirements for an always-on model. That worry sits ahead of liquidity fragmentation, risk-management complexity, and collateral mobility.
Crucially, only 16% of respondents said they could meet 24/7 requirements with no additional investment. Nahead half judged it would take a small investment, a minority anticipated a large lift, and only 5% said it would more than double their cost base.
“The proprietary trading community recognises the potential benefits of 24/7 trading but is cautious about the operational and liquidity challenges it introduces. It’s clear that infrastructure across the market—particularly payments and collateral movement—will have to be upgraded.”
— Ross Lancaster, Head of Research, Acuiti
Money Movement: Banking Rails First, Stablecoins On The Horizon
Even if trading is open, capital needs to move. Respondents pointed first to upgrading existing as the practical near-term answer. A meaningful share also cited stablecoins as a way to bridge out-of-hours payments and margin, with central-bank digital money viewed as a longer-term possibility.
Where Firms view The Upside
- React in real time to macro and geopolitical headlines.
- Reduce overnight risk by smoothing gaps between sessions.
- Align trading hours with global client bases and cross-time-zone strategies.
- Incremental P&L opportunities if liquidity proves resilient in off-peak windows.
But The Market Wants Guardrails
Firms urged platforms to keep market-maker incentive programs simple, competitive and transparent, with clear quoting obligations and short review cycles. Overly complex, static schemes invite gaming and may fail to viewd durable liquidity in thin periods.
“The discussion around 24/7 trading is multifaceted. diverse jurisdictions and asset classes have diverse considerations. Our experience operating always-on infrastructure across crypto and traditional markets means we can support clients whichever path is adopted.”
— Aleksey Larichev, CEO, Avelacom
H1 2025 Scorecard: Strong Results, Tight Labor Market
The report also takes stock of the half year. 67% of reported a better H1 than in 2024, supported by volatility in rates, equities and crypto. At the identical time, regulation and hiring were cited as the top challenges—particularly the scarcity of talent that blends trading expertise with modern data and AI skills. Rising data and platform costs remain a persistent pressure point.
Market Structure Wish List
- FX options on platform: 41% want venues to do more to migrate .
- Shorter, flexible incentives: Avoid one-size-fits-all programs; revisit obligations as products mature.
- Data cost transparency: Keep fees predictable as firms expand multi-asset coverage.
Bottom Line: Extend With Caution
Acuiti’s snapshot captures a sector that is commercially curious but operationally realistic. The case for 24/7 trading hinges less on matching technology than on the ability to run payments, collateral, surveillance, risk and people without interruption. Expect incremental steps—22/5 or 23/5 models, targeted overnight sessions, and tighter post-trade integration—before any broad shift to true around-the-clock markets.
