Nasdaq has formally submitted a request to the U.S. Securities and Exchange Commission seeking approval to allow round-the-clock trading in U.S. stocks. If approved, the move would mark a major shift in how American equity markets operate, bringing them closer to the always-on nature of crypto and global FX markets. The exchange argues that investor behavior has become increasingly global and digital, reducing the relevance of fixed trading hours.
Supporters of 24-hour trading say it could improve market accessibility for international investors and retail traders who are active outside U.S. time zones. Nasdaq also believes extended hours could enhance liquidity and price discovery, particularly during periods of heightened global news flow.
Critics, however, warn of potential downsides, including thinner liquidity overnight, higher volatility, and operational challenges for brokers, market makers, and clearing systems. The SEC’s review will likely focus on market stability, investor protection, and infrastructure readiness before any approval is granted.