SEC Extends Consolidated Tape Operating Hours
Published Date: 7/1/2026
Notice
Summary
The SEC approved changes to the rules that manage how stock price and trade info is shared, letting the system that processes this data run longer hours. This affects all the big stock exchanges and market groups involved, helping traders get info faster and more often. The new hours start April 22, 2026, with no extra fees for users.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Consolidated Tape Runs Much Longer
The Consolidated Tape Processor will run from 9:00 p.m. Eastern Time (ET) Sunday through 8:00 p.m. ET Friday, with a one-hour pause from 8:00 p.m. to 9:00 p.m. ET Monday through Thursday. The Securities and Exchange Commission approved this change on June 26, 2026, and the Operating Committee expects implementation on December 6, 2026.
Trade Date Definition Set
The Plans define a trade date as the period between 8:00 p.m. ET on the day before Regular Trading Hours begin and 8:00 p.m. ET on the same day (for example, Wednesday's trading day runs from 8:00 p.m. ET Tuesday to 8:00 p.m. ET Wednesday). This definition is adopted to align with the Processor's expanded hours and reduce complexity.
How Off-Hours Trades Are Marked and Counted
Transactions executed outside 9:30 a.m. ET to 4:00 p.m. ET will be designated with a ".T" marker. These off-hours trades will be included in the calculation of total trade volume for determining net distributable operating revenue, but they will not be included when calculating the daily high, low, or last sale.
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