Nasdaq is preparing to file with the SEC to extend weekday trading from the current ~16 hours to 23 hours per day, creating a near-continuous market structure. Under the proposal, trading would run in two sessions, from 4:00am to 8:00pm ET, pause for a 1-hour clearing break, then reopen from 9:00pm to 4:00am ET.
The push reflects growing global demand for nonstop access to U.S. equities, particularly from international investors, retail traders, and institutions operating across time zones. It also mirrors moves already underway at rival exchanges, as Wall Street inches closer to true 24/7 markets.
Supporters argue extended hours improve accessibility, price discovery, and global competitiveness. Critics warn of thinner liquidity, wider spreads, and higher volatility during overnight sessions, especially around earnings, macro releases, and geopolitical shocks.
If approved, the shift would mark one of the most significant structural changes to U.S. equity trading in decades, blurring the line between traditional market hours and the always-on nature of crypto and global futures markets.
