2026-13212NoticeWallet

Nasdaq Data Hours Extended in Routine Market Plan Update

Published Date: 7/1/2026

Notice

Summary

The big stock exchanges and regulators agreed to keep the system that shares Nasdaq stock prices and trades running for longer hours each day. This change helps traders get up-to-date info outside regular market times, making trading smoother and more transparent. The new hours start March 12, 2026, and won’t cost extra but will keep everyone better connected.

Analyzed Economic Effects

5 provisions identified: 2 benefits, 2 costs, 1 mixed.

Participants Must Pay Extended-Hours Costs

Participants that operate during the Additional Period must pay the development and operating costs the Processor incurs to support the extended hours; Participants that join later must pay a proportionate share of prior aggregate development costs and contribute to operating costs from when they begin operating in the Additional Period.

Consolidated Quotes and Trades Overnight

If you trade or invest, consolidated Nasdaq-listed quotes and transaction reports will be available from 9:00 p.m. Eastern Time (ET) Sunday through 8:00 p.m. ET Friday, with a one-hour pause at 8:00 p.m. ET Monday–Thursday for technical refreshes. The Operating Committee expects implementation on December 6, 2026.

New Trade Date Definition

Under the amended plan, a trading day will run from 8:00 p.m. ET on the prior calendar day to 8:00 p.m. ET on the day Regular Trading Hours begin (for example, Wednesday's trading day is 8:00 p.m. ET Tuesday to 8:00 p.m. ET Wednesday). This definition applies to the Processor's operation for trade-dating purposes.

How After-Hours Trades Are Labeled and Counted

Transactions executed outside 9:30 a.m. ET–4:00 p.m. ET will be designated as ".T" trades; they will be included in total trade volume for calculating net distributable operating revenue but will not be used to calculate the daily high, low, or last sale. Late trades may be reported any time the Processor can receive transaction reports.

Quote Credits Limited to Regular Trading Hours

Quote Credits may be earned only for quotations transmitted to the Processor during Regular Trading Hours (the meaning of Regular Trading Hours is specified in Rule 600 of Regulation NMS as adopted into the UTP Plan).

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Key Dates

Published Date
Effective Date
7/1/2026
12/6/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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