The US Securities and Exchange Commission approved Nasdaq’s plan to extend trading hours for stocks and exchange-traded products to 23 hours a day, five days a week. The order was published in the Federal Register on 15 April.
Why it matters
The move marks the most significant expansion of US stock exchange operating hours in decades. It could reshape how institutional and retail investors worldwide access American markets.
How it works
Nasdaq will operate two sessions. The Day Session runs from 4:00 AM to 8:00 PM ET, covering the existing pre-market, regular, and after-hours windows. A new Night Session runs from 9:00 PM to 4:00 AM ET.
Between 8:00 PM and 9:00 PM ET, the exchange will pause for system maintenance, corporate action processing, and testing. The one-hour gap is the only daily break.
Why now
Nasdaq cited two pressures in its filing. First, international investors in Asia and Europe have long sought access to US equities during their local business hours. Second, digital asset exchanges operate around the clock, and traditional exchanges risk losing relevance if they do not adapt.
Trading volume during overnight hours has grown steadily. Several broker-dealers already offer extended-hours trading through alternative venues, but a regulated exchange session adds transparency and tighter spreads.
What changes for investors
Retail investors using major brokerages will gain access to regulated Nasdaq trading during overnight hours, though individual brokers must decide whether to offer the sessions. Institutional traders with global operations can execute orders without waiting for New York’s morning bell.
Timeline
Nasdaq said it expects to launch the extended hours early in the third quarter of 2026. The exact date depends on readiness across the broader industry, including clearing houses, data vendors, and competing exchanges.