Nasdaq (NDAQ.US), the global exchange hosting tech giants like Nvidia (NVDA.US), Apple (AAPL.US), and Amazon (AMZN.US), plans to file an application with the SEC to introduce round-the-clock stock trading by 2026. This move responds to surging global demand for extended US market access.
Regulators have recently approved extended trading hours proposals from major exchanges amid growing investor appetite for non-stop trading. Nasdaq data shows US-listed companies account for two-thirds of global market capitalization, with foreign investors holding $17 trillion in US equities as of last year. The SEC filing marks Nasdaq's formal push toward implementing 24/5 trading (24 hours/day, 5 days/week).
Nasdaq President Tal Cohen revealed in March that the exchange began regulatory consultations, targeting a late-2026 launch. Competitors NYSE and CBOE Global Markets (CBOE.US) have announced similar plans. "Globalization isn't new, but the US market itself is becoming increasingly global," said Chuck Mack, Nasdaq's North America Markets Head.
The proposed model expands trading from 16 to 23 daily hours across five days, replacing the current three-session structure (premarket 4:00-9:30 ET, regular 9:30-16:00, after-hours 16:00-20:00) with two continuous blocks: daytime (4:00-20:00) and overnight (21:00-4:00), with a 1-hour maintenance window. The iconic opening (9:30) and closing (16:00) bells remain, while overnight trades (21:00-24:00) will settle as next-day transactions. The trading week would run from Sunday 21:00 through Friday 20:00.
Critical to implementation is upgrading the Securities Information Processor (SIP) for real-time quote dissemination, alongside DTCC's planned 24/5 clearing services by late 2026. Proponents argue this enables faster reaction to off-hours market events, particularly for international investors. However, Wall Street banks express concerns about potential liquidity fragmentation and increased volatility.
Mack noted that while extended-hours volume remains lower than regular sessions, overnight demand is skyrocketing. Currently, 24-hour traders rely on alternative platforms like Blue Ocean and OTC Moon. "We're seeing unprecedented global demand for Nasdaq-listed stocks outside US hours," Mack stated. "Investors worldwide want to trade this massive market on their own terms and time zones."
US exchange hours largely reflect century-old floor trading conventions despite today's electronic dominance. Earlier this year, Nasdaq explored tokenized stock trading amid crypto regulatory shifts. "During market stress, our high-throughput system handles significant volume spikes," Mack emphasized regarding the infrastructure's readiness.