Exclusive-Nasdaq seeks to extend trading hours, as Wall Street gears up for 24/7 move

§ 01 Executive Snapshot

• What: Nasdaq is planning to submit paperwork for round-the-clock trading of stocks.
• Who: Nasdaq, U.S. Securities and Exchange Commission, global investors.
• Why it matters: This development reflects a significant shift towards 24/7 trading in U.S. equities, catering to growing global demand.

§ 02 Key Developments

• Nasdaq plans to expand trading hours from 16 hours to 23 hours, five days a week.
• The new trading schedule will feature two sessions: a day session from 4 a.m. to 8 p.m. and a night session from 9 p.m. to 4 a.m.
• Nasdaq is expected to launch nonstop trading in the second half of 2026, following ongoing discussions with regulators.

§ 03 Strategic Context

• The U.S. stock market comprises almost two-thirds of the global market value of listed companies, indicating its importance in global finance.
• Recent years have seen a surge in investor demand for nonstop trading in U.S. stocks, prompting exchanges to adapt and extend trading hours.

§ 04 Strategic Implications

• Immediate consequences include increased trading opportunities for investors, potentially leading to higher liquidity in U.S. equities.
• Long-term implications may involve a fundamental shift in market structure and investor behavior as 24/7 trading becomes normalized.

§ 05 Risks & Constraints

• Regulatory approval from the U.S. Securities and Exchange Commission remains a critical hurdle before implementing the new trading schedule.
• Competition from other exchanges, such as the New York Stock Exchange and Cboe Global Markets, which are also planning to move to round-the-clock trading.

§ 06 Watchlist / Forward Signals

• Nasdaq's official filing with the SEC on December 18 will be a key milestone in this process.
• Future developments will include the response from regulators and the actual rollout of the new trading hours in 2026.