TLDR
- Nasdaq plans to introduce 24-hour trading five days a week, pending regulatory approval
- Implementation is expected in the second half of 2026
- The move aims to tap into growing international demand for U.S. equities
- Nasdaq joins competitors like Cboe Global Markets and ICE in extending trading hours
- Retail brokerages including Charles Schwab and Robinhood already offer limited 24-hour trading
Nasdaq announced plans to implement 24-hour trading five days a week on its flagship stock exchange, joining a growing trend of extended trading hours in U.S. markets. The company is working with regulators and market participants to introduce the change, with an anticipated launch in the second half of 2026, pending regulatory approval.
Tal Cohen, President of Nasdaq, announced the initiative on Thursday. He framed the decision as a response to increasing investor interest in round-the-clock trading capabilities.
“Now, as the industry considers the growing interest in 24-hour trading, we stand at yet another pivotal moment—one that has the potential to broaden investor access, expand wealth-building opportunities, and redefine how markets function,” Cohen wrote in a LinkedIn post.
The move comes as demand for access to U.S. equities continues to grow globally. International investors are increasingly seeking opportunities in American markets due to their depth, liquidity, and regulatory framework.
Nasdaq believes its technological infrastructure positions it well to deliver a reliable 24-hour trading experience. Cohen highlighted the company’s “longstanding history of technology and infrastructure investments” as key advantages.
Aiming to serve night owls and international customers
The extended hours aim to better serve night owls and international customers who want improved access to U.S. markets. Currently, after-hours trading volumes remain much lower than daytime trading.
Nasdaq isn’t alone in this push toward extended hours. Cboe Global Markets announced in February its intention to expand to a 24-hour, five-day trading format.
Intercontinental Exchange (ICE), which operates the New York Stock Exchange, is also seeking regulatory approval for extended trading hours. This industry-wide shift suggests a fundamental change in how U.S. equity markets operate.
Several retail brokerages have already embraced the concept. Charles Schwab recently expanded its 24-hour trading service, citing customer demand from both domestic and international clients.
Robinhood Markets and Interactive Brokers also offer customers 24-hour trading options. These platforms currently use broker-dealer systems and alternative trading venues to match buyers and sellers overnight.
Nasdaq, with its established stock exchange infrastructure, may attract brokerage business by potentially offering better liquidity and price discovery than current alternatives. This could give it a competitive advantage in the extended-hours market.
The past decade has seen a surge in retail investors
The move aligns with the growing democratization of investing. The past decade has seen a surge in retail investor participation, driven by falling commissions and easier access through smartphone apps.
“The rise of retail participation has greatly transformed the global investment landscape,” Cohen noted. “Wealth accumulation across major regional economies reduces barriers to accessing markets.”
As of December 31, Nasdaq hosted 4,075 company listings across its various market tiers. These include 1,383 listings on The Nasdaq Global Select Market, 1,366 on The Nasdaq Global Market, and 1,326 on The Nasdaq Capital Market.
Nasdaq shares are down 1.5% this year compared to a 2.4% decline for the S&P 500. The company’s business extends beyond its stock exchange to include data and analytics services.
The timing of Nasdaq’s implementation will depend on securing necessary regulatory approvals. The company has started discussions with regulators but has not confirmed whether it has filed formal requests with the Securities and Exchange Commission.
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