Nasdaq is set to submit documents to the U.S. Securities and Exchange Commission (SEC) for nearly continuous trading, looking to align with the globalized nature of financial markets and investor habits, Reuters reported on Monday.
If approved, Nasdaq will increase trading hours for stocks and exchange-traded products (ETPs) from 16 to 23 hours each day, five days a week. The proposed schedule includes a daytime session from 4 a.m. to 8 p.m. ET, a one-hour break, and a nighttime session from 9 p.m. to 4 a.m. ET the following day. Trading will begin on Sunday at 9 p.m. and conclude on Friday at 8 p.m., maintaining the existing opening and closing times of 9:30 a.m. and 4 p.m., according to Reuters.
Many public crypto companies, including Coinbase (COIN), Robinhood (HOOD), and Strategy (MSTR), as well as several bitcoin mining firms, trade on Nasdaq’s platform, enhancing global access to these stocks.
“There has been a trend towards globalization for a while, and we’ve noticed that U.S. markets have also become significantly more global,” stated Chuck Mack, senior vice president of North American markets at Nasdaq, to Reuters.
This initiative follows earlier hints from both Nasdaq and the New York Stock Exchange (NYSE) about considering extended trading hours. Nasdaq’s Giang Bui, head of U.S. equities and ETPs, remarked in March that this adjustment represents “the direction in which the markets are evolving.” She added that discussions with regulators were already in progress, while the NYSE has now gained SEC approval for its after-hours expansion.
At present, U.S. stock markets operate from 9:30 a.m. to 4 p.m. ET, with limited pre- and post-market options. In contrast, cryptocurrencies trade continuously, a situation that may have altered investor expectations. “Numerous U.S. brokers are already providing overnight trading as their customers are accustomed to trading crypto during those hours,” Bui noted in March.
Trades executed between 9 p.m. and midnight during the night session will count toward the next calendar day, Nasdaq mentioned. This new framework is designed to offer greater access to U.S. markets across different time zones, which could attract both institutional and retail traders engaged in global or crypto trading.
The SEC filing is anticipated shortly, per the report. A Nasdaq representative was unavailable for comment.
