Nasdaq is preparing to file with the U.S. Securities and Exchange Commission (SEC) to enable near-round-the-clock trading, Reuters reported on Monday, aiming to adapt to the increasingly globalized nature of financial markets and investor behavior.
Under the proposal, Nasdaq would extend trading hours for stocks and exchange-traded products (ETPs) from 16 hours a day to 23 hours, five days a week. The new schedule will include day workouts from 4 a.m. to 8 p.m. ET, followed by an hour’s rest, followed by night workouts from 9 p.m. to 4 a.m. ET. Reuters said the trading week will begin at 9 pm on Sunday and end at 8 pm on Friday, with the existing opening and closing times of 9:30 am and 4 pm remaining unchanged.
Most public cryptocurrency companies trade on the Nasdaq exchange, including Coinbase (COIN), Robinhood (HOOD), and Strategy (MSTR), as well as many Bitcoin mining companies, making it easier for global traders to purchase these stocks.
“This globalization trend has been going on for some time, and we’ve seen the U.S. market itself become more global,” Chuck Mack, senior vice president of North American markets at Nasdaq, told Reuters.
Previously, both Nasdaq and the New York Stock Exchange (NYSE) said they were considering extending their business hours. Giang Bui, Nasdaq’s head of U.S. equities and exchange-traded products, said in March that the shift was “what’s happening in the market.” She also noted that Nasdaq was already in discussions with regulators at the time, and that the NYSE’s after-hours expansion had received SEC approval.
U.S. stock markets are currently open for trading from 9:30 a.m. to 4 p.m. Eastern Time, with limited pre- and after-market trading sessions. In contrast, cryptocurrencies are traded 24/7, a dynamic that could reshape investor expectations. “Many U.S. brokers already offer overnight trading because their clients are used to trading cryptocurrencies during these times,” Bui said in March.
Nasdaq said trades executed between 9 p.m. and midnight during the night session will be counted toward the next calendar day. The new structure will allow wider access to U.S. markets across time zones and may attract institutional and retail traders active in global or cryptocurrency markets.
An SEC filing is reportedly expected soon. A Nasdaq representative could not be reached for comment.