Robinhood Debuts Weekend Trading, Perpetual Futures to Customers

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(Bloomberg) — Robinhood Markets Inc., an early mover in extending trading hours for retail investors, now plans to offer weekend trading for equities in a first for modern US markets.

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Robinhood customers will soon be able to trade a selected list of stocks and exchange-traded funds over the weekend, extending the currently available trading hours of Sunday at 8 p.m. in New York through Friday at 8 p.m. The capability will be made possible by routing orders to a trading venue operated by Bruce Markets, according to a statement Tuesday.

“Breaking news doesn’t wait for an opening bell,” Steve Quirk, Robinhood’s chief brokerage officer, said in the statement.

Robinhood has continued to grow in the highly competitive retail brokerage space by quickly innovating and shipping consumer finance products, many of which push the edge of the mainstream. The Menlo Park, California-based company said earlier this year that its fastest-growing business is prediction markets. It also said it had opened up greater access to agentic AI trading tools for customers.

The firm also unveiled contracts linked to financial earnings, a new type of options contract from Cboe Global Markets Inc. that allows investors to wager on whether a company exceeds a specific performance indicator, such as how many cars Tesla Inc. sells. Those contracts will be available in the coming weeks, according to the statement. They’re still awaiting final approval from the Securities and Exchange Commission.

Robinhood customers will also be able to trade perpetual futures, a type of derivative contract that has no expiration date, on select cryptocurrencies, with as much as 10 times leverage on some contracts, the firm said. The perpetual futures will be made available via the Robinhood-owned exchange Bitstamp, which it acquired last year.

“Together with our partners, we are breaking down the limitations of traditional market structure and redefining how the world trades,” said Jason Wallach, chief executive officer of Bruce Markets, which is getting an undisclosed capital injection from Robinhood and majority owner Peak6 Investments to help facilitate the weekend trading launch.

Source: https://finance.yahoo.com/markets/options/articles/robinhood-debuts-weekend-trading-perpetual-230000491.html