NASDAQ plans to launch a 23-hour, 5-day-a-week United States stock trading arrangement on December 6, this year, provided that the related infrastructure upgrade is completed on schedule. This shows that the major United States exchanges are continuing to stretch their trading time to meet the demand for money across the time zone and to respond to the pressures of day-to-day transactions in the encrypted market.
Extension of period to 23/5
Under the new arrangements for NASDAQ disclosure, transactions will continue from Sunday night to Friday night, with a daily one-hour shut-down window for trading day switching and system maintenance. The current period is from 4 a.m. to 8 p.m. American Eastern Time, and the core period is from 9 a.m. to 30 p.m.
NASDAQ indicated that the new trading mechanism had previously been approved by the United States Securities and Exchange Commission and that the current go-live period was largely dependent on the completion of the update of its Securities Information Processing System (SIP).
Night trading will be restricted.
In response to the low mobility and increased price volatility at night, NASDAQ plans to include additional restrictions during the night trade period, including through price bands to reject excessive fluctuations in trade applications and to place restrictions on standard market lists.
This means that trading times, while close to the 24/7, do not entirely duplicate the continuing pattern of the encrypted market. Traditional securities markets still need to retain additional constraints in the liquidation, quotation and risk control chain.
The traditional exchange is catching up.
Many traditional platforms have begun to extend trading times in recent years. Robinhood and surplus securities have been providing 24/5 transactions for some shares through alternative trading systems since 2023. The New York Stock Exchange is also moving forward with longer-term trading arrangements, of which regular stock 22/5 transactions have been approved and are expected to go online this year; its currency exchange application is still awaiting regulatory release.
The director of NASDAQ, Tal Cohen, said that global investors' demand for United States equities continued to rise. According to its disclosures, between 2019 and 2024, demand for foreign-to-United States equity transactions grew by 97 per cent. The NASDAQ composite index has risen by more than 13 per cent since this year and is at an all-time high.
In addition to taking on global orders, longer trading times are seen as a response to changes in financial flows. The traditional exchange is trying to narrow the time gap with the 24/7 market as encryption assets, tokenized products and the Hyperliquid digital market attracts more occupant.