Nasdaq plans to roll out 24-hour trading for U.S. companies in a move designed to modernize the market.
“The global growth of investor demand for US equities means we stand at another pivotal moment for our markets—to broaden investor access, expand wealth-building opportunities and redefine how markets function,” Nasdaq President Tal Cohen wrote in a March 7 LinkedIn post.
Trading will still be five days a week, with the change expected to launch in the second half of 2026. The move is still pending regulatory approval.
“While the promise of round-the-clock trading can make our markets more accessible, it also demands careful and deliberate planning,” Cohen wrote, adding that any structural change must uphold liquidity, transparency and integrity.
“An ever-increasing appetite to share in global prosperity is driving investors to engage with U.S. markets more than ever before,” Cohen said in a separate March 7 LinkedIn article.
The Nasdaq leader pointed to the total foreign holdings of U.S. equities, which hit $17 trillion in June 2024—a 97% increase from 2019.
Specifically, investors in the Asia-Pacific region have a growing interest in U.S. markets, Cohen said, citing the country’s “strong regulatory framework” and “access to high-growth sectors such as technology and healthcare.”
“Attracting more investment to our markets presents a compelling opportunity for both the U.S. and global economy,” Cohen wrote. “It is therefore incumbent on us to enhance access for those operating across different time zones.”
Corporate issuers are cautious about the 24/5 model, citing liquidity and corporate action concerns, according to a recent Nasdaq survey of listed companies.
“While overnight trading occurs today without the oversight, transparency and resilience that exchanges can bring, once exchanges choose to participate as trading venues, corporate issuers will expect a materially improved experience for their investors,” Cohen wrote.
The announcement follows a planned expansion to 22-hour trading from the New York Stock Exchange, which is operated by Intercontinental Exchange. Last month, NYSE received approval from the SEC to move forward with its plan to run trading from 1:30 a.m. ET to 11:30 p.m. ET.
Since 1985, the U.S. market has been open from 9:30 a.m. to 4 p.m. ET, Monday through Friday.