Pacific Exchange Plans to Extend Hours

In a direct challenge to the New York Stock Exchange’s new after-hours sessions, the regional Pacific Stock Exchange announced plans Tuesday to extend conventional stock trading to 50 minutes after the NYSE close.

The proposed longer trading day by the Pacific exchange is the latest salvo in a battle over valuable stock trading market share between the NYSE and the nation’s smaller regional exchanges.

The Pacific, which has trading floors in Los Angeles and San Francisco, said it planned to extend its trading day to 4:50 p.m. Eastern time from 4:30 p.m. The NYSE and other U.S. stock exchanges close at 4 p.m.

The New York exchange last week received federal approval for two after-hours sessions providing computerized execution of trades in individual stocks and baskets of securities, but only at their 4 p.m. NYSE closing prices.

The Pacific exchange’s plan provides continuous securities trading in the regular auction-style market in which prices fluctuate based on market demand. It is aimed at individual investors who may have sought to trade in the NYSE session.

The plan, which must be approved by the Securities and Exchange Commission, is designed to counter the first NYSE session for trading in individual stocks lasting from 4:15 p.m. to 5 p.m.