Nasdaq plans to move U.S. equity markets closer to crypto-style hours by introducing 23-hour weekday stock trading. This extends access far beyond the current pre‑market and after‑hours windows and pushes traditional equities toward an almost around‑the‑clock regime.
How the Nasdaq Schedule Works
Under the plan, as reported by Reuters, Nasdaq will close only for a brief daily reset, with trading remaining open for 23 hours every workday. Electronic sessions will extend to almost the whole 24-hour cycle from Monday through Friday, while regular cash-session hours will continue to span the main U.S. trading day.
The expanded timetable attempts to capture news that currently breaks when U.S. markets are asleep, earnings announcements from international corporations, and price discovery around global macro events. Instead of depending on derivatives or waiting for the New York open, investors in Europe and Asia will have more overlapping time to trade U.S. equities directly.
Particularly during the weakest hours of the day, market participants anticipate that the shift will mainly rely on algorithmic liquidity providers and electronic market makers.
Even if quotations remain accessible, spreads will likely increase, and depth will decrease during certain off-peak intervals, making execution quality highly time-dependent.
Investor and Market Structure
For active traders, 23‑hour access reduces the “gap risk” that builds between the close and the next day’s open when major news breaks overnight. Portfolio managers will have more tools to adjust exposures in response to geopolitical shocks, central bank decisions in Asia or Europe, and out‑of‑hours corporate announcements.
The move also intensifies questions about investor protection and burnout. Retail traders may feel pressure to monitor markets nearly around the clock. At the same time, smaller firms must decide whether to upgrade their infrastructure to compete in extended sessions or accept greater tracking error relative to more nimble peers.
Structurally, the shift narrows the gap between equities and crypto, where 24/7 trading already sets expectations for constant liquidity. It may encourage more cross‑asset strategies that treat stocks, futures, and digital assets as a single continuum of tradeable risk.
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