New York City, December 16, 2025
Nasdaq is set to introduce extended trading hours, operating 24 hours, five days a week, starting in the latter half of 2026. The move aims to cater to the increasing global demand for U.S. equities. Currently operating 16 hours a day, the exchange plans to have a day session from 4 a.m. to 8 p.m. and a night session from 9 p.m. to 4 a.m. This change aligns with other exchanges exploring similar trading schedules, though concerns about liquidity and volatility during non-traditional hours persist.
Nasdaq Plans to Extend Trading Hours to 24/5
New York, NY – Nasdaq is preparing to introduce 24-hour trading sessions five days a week, aiming to meet the growing global demand for U.S. equities. The exchange plans to file the necessary documentation with the U.S. Securities and Exchange Commission (SEC) to offer 23-hour trading sessions, five days a week, beginning in the second half of 2026. Currently, Nasdaq operates 16 hours a day with three sessions; under the new structure, there will be a day session from 4 a.m. to 8 p.m., a one-hour break, and a night session from 9 p.m. to 4 a.m.
This move aligns with broader trends on Wall Street, where other major exchanges such as the New York Stock Exchange and Cboe Global Markets are also exploring 24/5 trading. The transition will require upgrades to key market infrastructure, including the U.S. Depository Trust and Clearing Corp., which plans to support continuous trade clearing by late 2026.
While off-exchange venues currently serve global investors seeking after-hours access, Nasdaq hopes to better serve international markets by offering access on “their own terms, in their own time zones.” Critics, including large banks, caution about the potential for lower liquidity and increased volatility during non-traditional hours.
Background Context
Nasdaq’s filing with the SEC marks its first formal step towards rolling out round-the-clock trading, five days a week. This initiative reflects a marked shift toward globalization within financial markets, and serves as a response to the evolving needs of investors worldwide seeking more flexible trading options.
In context, Nasdaq President has discussed the increasing pace of market globalization and the necessity for trading venues to adapt. The new trading hours will likely support enhanced participation from global investors, further integrating U.S. equities into worldwide markets.
Infrastructure Upgrades Needed
The successful implementation of round-the-clock trading will necessitate significant enhancements to existing market infrastructure. The U.S. Depository Trust and Clearing Corp. is set to facilitate continuous trade clearing by late 2026, thereby ensuring that operational demands are met with minimal disruption during the transition phase.
The Global Investor Perspective
Advocates for extending trading hours emphasize the opportunity for businesses and individual investors alike to access markets during times that suit their needs best. For international investors, this change eliminates the barriers of time zone discrepancies, allowing for more dynamic engagement with U.S. equities.
Concerns Raised by Critics
Despite the positive opportunities, some critics express concerns regarding the potential adverse effects of longer trading hours. Notably, significant players on Wall Street, including large banks, voice caution regarding the risks of lower liquidity and higher volatility during less conventional trading hours. These factors could impact overall market stability, especially during times of economic stress.
Conclusion
Nasdaq’s plan to extend its trading hours signals a significant shift in how U.S. equities will be accessed globally. As markets adapt to the demands of an increasingly connected world, the ability to trade more freely aligns with the innovative spirit of entrepreneurship in New York. While there are valid concerns about the implications of night trading, the potential benefits for small investors and companies looking to expand their reach are considerable. As New York’s economic landscape continues to evolve, supporting businesses and engaging with ongoing developments is crucial for fostering a resilient and dynamic economy.
FAQ
What is Nasdaq’s plan for extending trading hours?
Nasdaq plans to introduce 24-hour trading sessions five days a week, aiming to meet the growing global demand for U.S. equities. The exchange intends to file the necessary documentation with the U.S. Securities and Exchange Commission (SEC) to offer 23-hour trading sessions, five days a week, beginning in the second half of 2026. Currently, Nasdaq operates 16 hours a day with three sessions; under the new structure, there will be a day session from 4 a.m. to 8 p.m., a one-hour break, and a night session from 9 p.m. to 4 a.m.
Why is Nasdaq extending its trading hours?
The move aligns with broader trends on Wall Street, where other major exchanges such as the New York Stock Exchange and Cboe Global Markets are also exploring 24/5 trading. The transition will require upgrades to key market infrastructure, including the U.S. Depository Trust and Clearing Corp., which plans to support continuous trade clearing by late 2026. Nasdaq hopes to better serve international markets by offering access on “their own terms, in their own time zones.”
What are the concerns regarding extended trading hours?
Critics, including large banks, caution about the potential for lower liquidity and increased volatility during non-traditional hours. Major Wall Street banks are cautious about the push toward longer trading hours.
How will Nasdaq implement the extended trading hours?
Nasdaq plans to expand trading with a day session from 4 a.m. to 8 p.m., followed by a one-hour break, and a night session from 9 p.m. to 4 a.m. Under the new plan, the trading structure will accommodate the extended hours.
What infrastructure upgrades are necessary for the extended trading hours?
The successful rollout of round-the-clock trading will necessitate significant enhancements to existing market infrastructure, including the U.S. Depository Trust and Clearing Corp. which is set to facilitate continuous trade clearing by late 2026.
Key Features
| Feature | Details |
|---|---|
| Extended Trading Hours | Nasdaq plans to offer 23-hour trading sessions, five days a week, beginning in the second half of 2026. |
| Trading Sessions | Day session from 4 a.m. to 8 p.m., followed by a one-hour break, and a night session from 9 p.m. to 4 a.m. |
| Global Demand | The move aims to meet the growing global demand for U.S. equities and align with other major exchanges exploring 24/5 trading. |
| Infrastructure Upgrades | Upgrades to key market infrastructure, including the U.S. Depository Trust and Clearing Corp., are necessary to support the extended trading hours. |
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