Nasdaq has submitted a filing to the US Securities and Exchange Commission (SEC), to extend to a 23/5 trading hours model, for US equities and exchange-traded products (ETPs).
Currently, the exchange operates three daily sessions from Monday to Friday, spanning a pre-market hours period from 4am to 9.30am ET, regular market hours from 9.30am to 4pm ET and post-market hours until 8pm ET.
If approved, the rule change will add a ‘night’ session to the current ‘day’ trading period, spanning 9pm to 4am ET the next calendar day, with a pause on trading between 8pm and 9pm ET daily for market infrastructure maintenance.
The new planned offering, named Global Trading Hours, aims to meet international demand for more accessible US markets across various time zones, while also maintaining trust and integrity in assets and trading.
Speaking to The TRADE, Chuck Mack, senior vice president, North American markets at Nasdaq, said: “By introducing a dedicated night session, we’re making it easier for participants around the world to engage with US equities on their own schedules and in their own time zones.
“This isn’t just about extending trading hours; it’s about broadening the reach and availability of the deepest, most dynamic, and most liquid market in the world. As we evolve toward 23/5 trading, we’re doing so with purpose and responsibility – balancing innovation with market integrity and investor protection. This milestone underscores our commitment to resilience and progress, benefiting issuers and investors alike.”
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The filing with the SEC marks a further development in Nasdaq’s efforts to achieve 24-hour trading, five days a week on its stock exchange.
The firm initially announced its intentions to enable this extended trading model in March 2025, stating that it had begun engaging with regulators to facilitate the offering.
At the time, Nasdaq said that it planned to launch a 24/5 model for US equities in the second half of 2026.
The news aligns with an uptick in 23/5 models being adapted by exchanges in recent months. In October, venue operator 24 National Exchange went live, enabling trading of US equities from 4am to 8pm ET on weekdays for both institutional and retails investors.