Signaling what could become the next wave in new services, online brokerage Datek Online Holdings Corp yesterday became the first to offer a morning before-hours trading session. Iselin, New Jersey-based Datek, which also claimed the distinction of being the first major online brokerage firm to offer an after-hours evening trading session to individuals in July, began offering its new service at 8am ET Wednesday.
In addition, the company extended its evening hours to 8pm ET, and now offers customers what it claims is the first 12-hour trading day. Datek matches its off-hours trades through electronic communications network the Island ECN. The company said morning trading seemed to be a logical move, as about 20% of its daily trades come between 9:30am and 10:15am.
