Nasdaq, the home of Coinbase and Strategy stocks, is filing for 23-hour extended trading to meet the demands of the crypto era. The exchange aims to mirror the 24/7 trading nature of cryptocurrencies, which has reshaped investor expectations. Nasdaq acknowledges that many of its clients are already active overnight, trading in the crypto markets. This move would make U.S. stocks more accessible to traders across the globe, particularly those in Asia and other foreign jurisdictions where business hours don't align with U.S. regular market hours. The proposal would extend trading hours for stocks and exchange-traded products (ETPs) from 16 hours to 23 hours per day, five days a week. The new schedule would include a day session from 4 a.m. to 8 p.m. ET, followed by a one-hour break, and then a night session running from 9 p.m. to 4 a.m. ET the following day. The trading week would begin on Sunday at 9 p.m. and close on Friday at 8 p.m., with the existing opening and closing bells at 9:30 a.m. and 4 p.m. remaining unchanged. This proposal comes as there is a growing demand from global investors to trade U.S. stocks beyond the usual trading hours. Nasdaq's Giang Bui, head of U.S. equities and exchange-traded products, noted that this shift is 'where the markets are moving'. The exchange is also competing for order flow from investors who are increasingly utilizing trading platforms that provide access to markets for digital assets, including cryptocurrencies, tokenized assets, and tokenized securities, on a 24/7 basis. This move could appeal to institutional and retail traders active in global or cryptocurrency markets.
