23/5 Trading Information Hub

As the Nasdaq Stock Market moves to 23/5 trading, here's everything you need to know.

Frequently Asked Questions

23/5 Trading

The Future of Global Trading

In today's "always-on" economy, the boundaries of time and geography are disappearing. Global investor needs have evolved, and we're responding with a deliberate, disciplined approach that prioritizes market integrity and investor confidence above all else.

On December 6, 2026, the Nasdaq Stock Market will introduce new trading hours from 9:00 pm-4:00 am ET. Together with the current extended trading hours that run from 4:00 am-9:30 am and 4:00 pm-8:00 pm ET, these hours will collectively constitute the Global Trading Session. Together with the US Trading Session 9:30am-4:00pm, and marked by the Opening and Closing Crosses, this will allow for continuous trading 23 hours a day, 5 days a week.

What the industry is calling “23/5 trading” reflects a broader shift in how capital moves around the world. As investing becomes increasingly global, market infrastructure is evolving to provide greater access while maintaining the protections and transparency of a registered national securities exchange.

Turning that vision into reality requires more than extended trading hours. It requires coordinated updates across the market ecosystem to ensure investors can access U.S. markets with the same transparency and resiliency they expect today.

Here’s What to Know ->

As we approach December 6th, Nasdaq’s guiding principles are focused on transparent communication, industry cohesion, and focusing on client needs – that’s what will make this launch a success.

Chuck Mack, Senior Vice President of North American Markets, Nasdaq Read about the SEC Roundtable

Articles and Insights

Understanding Global Trading on Nasdaq

FAQs

What are global trading hours?

To meet rising demand for U.S. equities across the globe, Nasdaq is engaging with regulators to offer nearly continuous trading 23 hours a day, 5 days a week, on the Nasdaq Stock Market. This expanded trading schedule will include a new trading session from 9 p.m. to 4 a.m. ET, together with Nasdaq’s current extended trading hours from 4 a.m. to 9:30 a.m. ET and 4 p.m. to 8 p.m. ET, enabling issuers to more efficiently attract capital from across the globe while enabling investors to broaden access and expand wealth-building opportunities.

The U.S. trading hours, from 9:30 a.m. - 4:00 p.m. ET and marked by the Opening and Closing Crosses, will continue to set the prices to drive investor transparency across all hours of market operation.

What changes can I expect as an investor?

Subject to SEC approval, Nasdaq will introduce a new trading session on the Nasdaq Stock Market from 9 p.m. to 4 a.m. ET.

Trading will commence at 9 p.m. ET on Sunday evening and conclude at 8 p.m. ET on Friday evening with a 1-hour industry-wide trading pause from 8 p.m. to 9 p.m. ET daily to allow for processing and transition to the next trade date.

When will the new session be available on Nasdaq?

The industry’s transition to a 23-hour trading day is currently expected to occur on Sunday, December 6, 2026, pending SIP readiness as well as any applicable SEC rule changes.

How will the existing Nasdaq Stock Market trading hours be impacted?

Currently the Nasdaq stock market operates from 4:00 a.m. to 8:00 p.m. ET. There will be no substantive change to current functionality or operations during this time frame.

Will other Nasdaq exchanges support the adjusted operating schedule?

No, Nasdaq Texas (NTX) and PSX equity exchanges will continue to operate on their current schedules; NTX: 7 a.m. to 7 p.m. ET and PSX: 8 a.m. to 5 p.m. ET. Nasdaq options exchanges will also continue to operate on their current schedules.

How will trade date and settlement be affected?

9:00 p.m. to Midnight: Trades will be reported with the next calendar day’s trade date.
Midnight to 8:00 p.m.: Trades will be reported with the current day’s trade date.

Settlement terms will be based on trade date as they are today.

Will Nasdaq be available for trading on US exchange holidays?

Yes, if a holiday falls between Monday and Thursday, trading will commence at 9 p.m. ET on the holiday evening. For example, if Monday is a US exchange holiday, trading will begin at 9 p.m. ET on Monday and continue until 8 p.m. ET on Tuesday.

In-Depth Resources

If your question wasn't answered above and you're seeking more in-depth resources, the following documents may provide the answer you're looking for:

Global Trading Hours FAQs

Information on Order Handling, Market Protections, and Market Data.

View FAQs

Post-Trade FAQs

Information on Trade Reporting and Client Reporting, Clearing, and impact to related Nasdaq products.

View FAQs

Corporate Actions FAQs

Information on Regulatory Halts.

View FAQs

Market Data FAQs

Information on market data feeds, testing, migration requirements, and the Nasdaq Plus product suite.

View FAQs