I know it’s a bit of a tortured metaphor, but reading about how the NYSE is implementing a blockchain-based trading platform to allow for world-wide, 24/7 trading (instead of the usual 9-5, M-F with after-hours trades being a separate thing) for whatever reason reminds me of how CNN introduced a 24 hour news cycle that basically upended how journalism was done and news was (and is) reported – largely for the worse. There’s already some pressure to maintain certain volumes of trades, with higher or lower volumes being seen as a sign of change or stress on the system. And we certainly have seen all sorts of nonsense crop up due to HFT, with many arguing that it never actually created the improved liquidity that people claimed it would. So I have to wonder what the impact of ever-trading is going to be, or whether we can even predict it?