the future of investing: 23-hour trading, AI tools, options, AUS vs US shares + more

Glen James (0:06)

Okay, this month, we've talked a lot about investing earlier in the month. We did a bonus investing episode. But today, I'm joined by Andrew Rogers, the Managing Director and Head of Stock Broking at CMC Invest. So we've got the big dog here today. You've been called a dog much today, Andrew.

Andrew Rogers (0:24)

First time, but that's good.

Glen James (0:25)

Yeah, let's go.

So yes, thank you to CMC for bringing us this bonus episode today. That's CMC Invest. Access shares, ETFs and crypto, all in the one award-winning app. Invest better today. Visit cmcinvest.com.

General advice only. Crypto is unregulated and high risk. T's and C's apply. Andrew Rogers, thank you so much for joining us and partnering with us for some investing content.

Andrew Rogers (0:53)

Thank you.

Glen James (0:54)

Now, we, I mean, we're borderline got stockbroking royalty in the room with us in Australia. Okay.

You've almost seen it all. Just paint a little bit of a picture about your career to date without aging yourself too much.

Andrew Rogers (1:13)

Yes. I'll keep this bit quick, probably the boring bit about me. I've been with CMC for 16 years.

I've seen us grow from what was a relatively small broker. We were traditionally a phone broker, and we've built out our platform and our offering to be now Australia's second biggest broker by number of clients or value of assets on the platform. So it's been a massive journey. Prior to that, I was in banking. I was in firms like JP Morgan, Credit Suisse and Merrill Lynch back in London.

Glen James (1:48)

Anything that surprises you still in this day and age? Because you've seen it all.

Andrew Rogers (1:54)

I think the retail investor is certainly getting a lot more. Yeah. And the features and tools that were available for institutional are not there that long for institution before retail adopts it. So we use a lot of the same technologies that the banks use.

It's just the order sizes are obviously a lot smaller and appropriate to retail everyday person.

Glen James (2:15)

Yeah. Now, one big thing that I think we should talk about, and this has been, it's chatted about for a while, but around this international investing convenience, the ability to place orders during extended market hours coming in December, that will enable the US markets, the US markets to trade 23, 24, type 5 So what's going on there? Is it all exchanges in the US or just one?

Andrew Rogers (2:40)

Yeah. So let's unpack that. So what does that mean? So it's 23, 5, so that the US markets, which is principally NASDAQ and shares on NYSE, which is the main ones, will trade 23 hours a day.

Glen James (2:54)

Right.

Andrew Rogers (2:55)

Now that for Australian investors is game changing.

We at CMC already offer this post and pre-trade session, so you can trade up to 9 AM currently in the morning, and it starts about 7 PM in the evening. But for those who like the beauty sleep, this 23-hour trading is going to be so much better. You can buy your Apple, your Nvidia, your SpaceX, starting or it will finish at 9 AM in the morning. There'll be an hour's break between 10 and 11, which is when ASX opens. And then at 11 AM, Sydney, the US market will be open for trading. So yeah, rather than stay up all night or leave limit orders, you can kind of trade in that session, react to events that may occur, or just it's just generally more convenient for people.

Glen James (3:46)

It's funny you say that because I, and most of our listeners are going to be holding broad-based ETFs and maybe like me, 10, 20% allocation to direct equities, depending on what vibe of life I'm in. I've hold some direct ones at the moment. But the reason, one of the reasons I haven't gone direct up north, Northern Hemisphere, is the time thing.

Andrew Rogers (4:11)

Yeah, absolutely.

We're traditionally an ASX broker participant. So even though international has grown massively over the last five years because of the convenience, our customers are still aligned to the local boss. And long may that continue, there's nothing wrong with the local boss, as long as the performance is there and you can get the diversification you need. And certain ETFs listed in ASX give you that global coverage. There's just not as much choice as what you can get overseas in single stock names or even in ETFs. So if you're just tracking the index, you know, the SPY or NASDAQ 100, then you can buy an Australian ETF no problem. If you want more of a semantic view, then you know, some of them, some of them themes are only available overseas.