U.S. stock trading is moving toward overnight hours, but not round-the-clock trading. Nasdaq expects its 23/5 schedule to start on December 6, 2026, adding a 9:00 p.m.–4:00 a.m. ET session while keeping a daily one-hour pause. The date is still conditional on market-data readiness and applicable rule changes. NYSE Arca is pursuing a separate extended-hours launch, with a 2026 target.
What are global trading hours?
Nasdaq uses “global trading hours” for its planned schedule spanning Sunday evening through Friday evening. The schedule connects early, regular core and late sessions with a new overnight session; it does not mean stocks will trade every hour of every day.
| Exchange plan | Published schedule | Status and readiness |
|---|---|---|
| Nasdaq | Early: 4:00–9:30 a.m. ET; core: 9:30 a.m.–4:00 p.m.; late: 4:00–8:00 p.m.; overnight: 9:00 p.m.–4:00 a.m. The planned daily pause is 8:00–9:00 p.m. ET. | Nasdaq expects the schedule to begin Sunday, December 6, 2026, subject to Securities Information Processor (SIP) readiness and applicable SEC rule changes. The SEC approved Nasdaq’s amended trading-hours proposal on April 10, 2026. |
| NYSE Arca | Overnight: 9:00 p.m.–4:00 a.m. ET; early: 4:00–9:30 a.m.; core: 9:30 a.m.–4:00 p.m.; late: 4:00–8:00 p.m. | NYSE says the rules received SEC approval in February 2025 and the exchange is targeting a 2026 launch. Its schedule highlights are marked “Subject to SEC approval.” NYSE says consolidated and proprietary market data are intended to be available, and DTCC plans to be open for clearing during extended hours. |
The SEC’s approval of an exchange rule and an exchange’s readiness to operate the session are distinct milestones. Nasdaq’s September 22, 2026 account of remarks by Chuck Mack, its senior vice president of North American Markets, quoted him as saying: “We are on track across both of our roles as processor of the Tape C SIP [Securities Information Processor] and as an operating exchange. [We have] a lot of confidence in the December 6 date — none of us see it as a target, we see it as the go-live.” That is Nasdaq’s account of Mack’s remarks, not a replacement for the stated readiness conditions.
Sources: Nasdaq’s 23/5 Trading Information Hub; SEC’s Nasdaq rulemaking entry; NYSE Extended Hours Trading; Nasdaq’s September 22 account of the SEC roundtable.
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Is this truly 24/7 trading?
No. Nasdaq describes 23 hours of trading a day, five days a week: trading is scheduled from 9:00 p.m. ET Sunday until 8:00 p.m. ET Friday, with a daily 8:00–9:00 p.m. pause. That leaves the weekend outside the schedule as well as the weekday pause. Nasdaq says the pause supports processing and the changeover to the next trade date.
The schedule is not universal across every exchange or Nasdaq venue. Nasdaq says its Texas exchange, PSX and Nasdaq options exchanges retain their current schedules; the proposed hours should not be read as a promise that every U.S.-listed security or every trading venue will be available overnight.
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How will trade date and settlement be affected?
For Nasdaq’s planned schedule, the clock time of an execution determines its trade date:
- A trade executed from 9:00 p.m. to midnight ET receives the following calendar day’s trade date.
- A trade executed from midnight to 8:00 p.m. ET receives that calendar day’s trade date.
Nasdaq says settlement terms follow the assigned trade date. In practical terms, a Sunday-night execution is dated Monday, while an execution after midnight Monday is also dated Monday. The pause begins at 8:00 p.m.; the next overnight session opens at 9:00 p.m. Nasdaq also says an overnight session will begin on Monday-through-Thursday exchange holidays, subject to its operating schedule.
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What changes can investors expect?
If an investor’s broker supports the session and the security is eligible, there will be a further window in which to submit trades outside the familiar daytime schedule. That adds an option for timing a trade; it does not guarantee that a desired order will execute at a particular price, or at all.
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The SEC’s approved Limit Up-Limit Down (LULD) Plan amendment establishes overnight price-band protections in two phases for 9:00 p.m.–4:00 a.m. ET. Price bands are guardrails against extraordinary price moves, not insurance against losses, wide quotes or a difficult fill. The SEC described overnight trading as historically having lower liquidity and wider spreads, with the potential for greater price volatility. It has not published a numerical estimate of expected overnight volume, spreads or participation in the cited materials.
Details of the amendment are in the SEC-approved LULD Plan Amendment No. 27, dated August 5, 2026.
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Will your broker offer overnight trading?
That is not established by the exchange announcements. Access depends not only on an exchange’s hours but also on market-data and clearing arrangements and on whether an intermediary chooses to support the session. Nasdaq’s FAQ makes SIP readiness a condition of its expected transition; NYSE identifies data availability and clearing coordination as launch work.
Before placing an overnight order, check your broker’s own notices for the launch date, eligible securities, accepted order types, execution rules and any account-specific restrictions. Neither exchange’s cited information identifies which retail brokers will offer access or what terms they will apply.
Sources: Nasdaq’s 23/5 Trading Information Hub; NYSE Extended Hours Trading.
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