Cboe received SEC approval to launch 23/5 US equities trading on its EDGX Equities Exchange (EDGX) on 1 June, as overnight trading spanning various asset classes begins to expand across the firm’s exchanges.
The expanded hours offering is set to go live in December 2026, pending industry readiness, and will allow investors to access trading for all NMS stocks on a 23/5 basis.
Following launch, the extended trading week will cover activity spanning Sunday 9pm ET to Friday 8pm ET, excluding US market holidays, and including a one-hour operational pause from 8pm ET to 9pm ET Monday to Thursday.
Speaking to The TRADE, Oliver Sung, head of North American equities at Cboe, said: “To meet the growing demand for US markets, Cboe has been thoughtfully exploring opportunities to expand trading hours and access to robust overnight liquidity.
“We are seeing a clear shift toward overnight trading in all asset classes, and the strong growth of Cboe’s early market US equities trading sessions highlights this trend. We are pleased to receive SEC approval for 23/5 trading and will continue working closely with the industry to prepare for launch.”
Moreover, all trades within these extended market hours are set to be cleared through the Depository Trust and Clearing Corporation.
Read more – Will 24/5 trading be the gamification of capital markets?
Cboe currently offers trading from 4am ET to 8pm ET on EDGX, and the approval to launch a 23/5 model on the exchange comes less than a week after the firm also announced it is set to offer extended trading hours for select multi-listed equity options on Cboe Options Exchange, effective 13 July.
In addition, the firm also offers a near 24/5 offering in its Global Trading Hours, as well as its Curb Trading Hours for several of its proprietary index options.
Read more – Foundations are being laid as the race for extended trading hours progresses
Efforts to expand trading hours for US equities and other asset classes have also been noted across the industry as demand rises, particularly from clients in APAC and in retail sectors.
Notably, in in January 2026, the DTCC announced that it was launching an industry-wide testing phase for 24/5 trading, to prepare for numerous shifts to extended market hours set to come into play across the industry in the coming months.
Elsewhere, Nasdaq submitted a filing to the SEC in December 2025, to extend to a 23/5 trading hours model for US equities and exchange-traded products (ETPs).