June 5 (Reuters) - Interactive Brokers ( IBKR ) Chairman

Thomas Peterffy on Thursday said 24-hour trading has become more

acceptable, calling it a genie that is hard to put back into the

bottle, at the Piper Sandler Global Exchange & Trading

Conference.

Global interest in the lucrative U.S. equity market has

surged in recent years, driven by rising retail participation,

prompting exchanges and financial firms to seek new methods to

expand access, particularly by extending trading hours.

"24 hours' trading is obviously very important to many

people in the far Middle and near East, much more so than in the

U.S. or even in Europe," Peterffy said at the conference.

In May, about 2.2% of Interactive Brokers' ( IBKR ) volume was done

in overnight trading, Peterffy said, adding that he expects the

number to rise to 25% to 30% in the next year.

Interactive Brokers ( IBKR ) launched overnight trading in November

2022, while exchanges like Nasdaq, Cboe Global Markets ( CBOE )

and Intercontinental Exchange ( ICE ), the operator of

the New York Stock Exchange, have announced plans for extended

trading hours.

Ken Griffin's Citadel Securities had flagged risks of

24-hour trading to the Securities and Exchange Commission in

April, highlighting the need for a clear regulatory framework

and market infrastructure to support its implementation.