Nasdaq Goes Nearly 24/7: Trading Almost Around the Clock!
Published Date: 4/15/2026
Notice
Summary
Nasdaq is extending its trading hours to 23 hours a day, five days a week, so investors can buy and sell stocks almost around the clock. This change affects anyone trading on Nasdaq and aims to give more flexibility and opportunities to make money. The new hours will start soon after the SEC’s quick approval, shaking up how and when people trade.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Nasdaq Moves to 23-Hour Trading Week
Nasdaq will trade NMS stocks and exchange traded products 23 hours per day, five days a week (``23/5''). The Day Session will run 4:00 a.m. ET to 8:00 p.m. ET and the Night Session will run 9:00 p.m. ET to 4:00 a.m. ET, with a 8:00–9:00 p.m. ET pause each weekday; all NMS stocks are eligible to trade in the Night Session.
Night Session Limits Order Types and Attributes
During the Night Session (9:00 p.m.–4:00 a.m. ET), only limit orders are permitted and unpriced orders (including pegged and other unpriced order types) will be rejected. Many order types and attributes will not be available at night (examples listed include Market On Open, Market On Close, Limit On Open, Limit On Close, Midpoint Extended Life Orders, M-ELO+CB, Primary/Market/Midpoint Pegging, and Discretion), and Limit Order Protection (LOP) will apply with the LOP limit equal to the greater of 10% of the LOP Reference Price or $0.50.
Required Night-Session Risk Disclosures
Brokers and Exchange members must disclose that extended-hours trading carries material risks, and Nasdaq proposes to supplement extended-hours risk disclosures to address additional risks specific to the Night Session. These disclosures must be provided before accepting customer orders for extended hours.
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Key Dates
Department and Agencies
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