Fidelity Extends Trading Hours
BOSTON (AP) _ The nation’s biggest mutual fund firm is extending its retail trading hours, allowing online investors to buy and sell securities long after the market’s closing bell.
Boston-based Fidelity Investments will extend hours for online trading from 4:30 p.m. to 8 p.m., starting early next month.
The move comes just days after Charles Schwab, one of Fidelity’s biggest competitors in the discount online brokerage industry, announced similar plans. Taken together, the two announcements represent a significant increase in the potential number of after-hours traders.
``After-hours trading is a service that is of great interest to our involved, active traders,″ said Tracey Curvey, executive vice president of Fidelity’s online brokerage.
Fidelity will allow investors to place limit orders _ to buy stocks at or below a set price _ for Nasdaq securities, and for a limited number of New York Stock Exchange securities. Clients must buy minimum round lots of 100 shares.