Core Viewpoint - Nasdaq plans to submit a proposal to the SEC for 24/5 stock trading to meet the growing global demand for U.S. stocks, marking a significant shift in trading hours [1][2]. Group 1: Trading Hours Expansion - Nasdaq will extend daily trading hours from 16 to 23 hours, operating five days a week, with a new schedule that includes a day session (4:00 AM - 8:00 PM) and a night session (9:00 PM - 4:00 AM) [2]. - The new trading week will start on Sunday at 9:00 PM and end on Friday at 8:00 PM, with a one-hour break for system maintenance [2]. Group 2: Market Demand and Globalization - There is a significant increase in demand for night trading, particularly from international investors, as they seek to participate in the U.S. market according to their own time zones [4]. - Nasdaq's move reflects a broader trend of globalization in the U.S. market, with foreign investors holding $17 trillion in U.S. stocks as of last year [1][4]. Group 3: Industry Response - While proponents believe that 24/5 trading will allow quicker responses to market dynamics outside regular hours, major Wall Street banks express caution, fearing potential liquidity decline and increased volatility [3]. - Nasdaq has built a resilient and high-throughput system to handle increased trading activity during market stress [4].

Core Viewpoint - Nasdaq plans to submit a proposal to the SEC for a 24/5 trading service to meet the growing global demand for U.S. stocks, marking a significant shift in trading hours for the exchange [1][2]. Group 1: Trading Hours Expansion - Nasdaq will extend daily trading hours from 16 hours to 23 hours, operating five days a week, with a new structure of daytime and nighttime trading sessions [2]. - The new trading schedule will include a one-hour break for system maintenance, with daytime trading from 4:00 AM to 8:00 PM and nighttime trading from 9:00 PM to 4:00 AM [2]. Group 2: Market Demand and Globalization - There is a significant increase in demand for U.S. stocks from international investors, with foreign ownership of U.S. stocks reaching $17 trillion [1][3]. - Nasdaq's executives emphasize the trend of globalization in the market, indicating that investors worldwide want to trade according to their own time zones [4]. Group 3: Industry Response and Concerns - Major Wall Street banks express caution regarding the potential impacts of 24/5 trading, including concerns about liquidity, increased volatility, and uncertainty in investment returns [3]. - Despite lower trading volumes during extended hours, there is a notable rise in demand for after-hours trading, primarily through alternative trading systems [4].

Nasdaq, the second-largest exchange in the US, is looking for regulatory approval to extend trading hours on its stock venues to 23 hours during the work week https://t.co/mDIgctmHTm ...

Core Viewpoint - Nasdaq is planning to submit paperwork to the U.S. Securities and Exchange Commission to implement round-the-clock trading of stocks, aiming to meet the growing global demand for U.S. equities [1][2]. Group 1: Trading Hours Expansion - Nasdaq intends to extend trading hours from 16 hours to 23 hours, five days a week, transitioning from three daily sessions to two [4]. - The new trading schedule will start on Sunday at 9 p.m. and end on Friday at 8 p.m., with a one-hour break for maintenance and clearing of trades [6]. Group 2: Market Demand and Globalization - There has been a significant increase in investor demand for nonstop trading in U.S. stocks, with total foreign holdings of U.S. equities reaching $17 trillion last year [2]. - The U.S. stock market accounts for nearly two-thirds of the global market value of listed companies, indicating its importance in the global financial landscape [2]. Group 3: Regulatory and Operational Considerations - Nasdaq's filing with the SEC represents its first formal step towards implementing round-the-clock trading, with expectations to launch in the second half of 2026 [2]. - Successful implementation will depend on upgrades to the securities information processor and the U.S. Depository Trust and Clearing Corp.'s rollout of nonstop clearing by the end of 2026 [6]. Group 4: Investor Behavior and Market Dynamics - Advocates for round-the-clock trading argue it will enable investors, particularly those outside the U.S., to respond more swiftly to market developments [7]. - Despite the demand for extended trading hours, major Wall Street banks express caution due to concerns about liquidity, volatility, and investment returns [7][8].

Core Viewpoint - Nasdaq plans to submit documents to the SEC to launch all-day stock trading, marking a significant step towards continuous trading five days a week, expected to be implemented in the second half of 2026 [1] Group 1: Nasdaq's Trading Plans - Nasdaq aims to extend trading hours from 16 hours to 23 hours per week, introducing two trading sessions: a daytime session from 4 AM to 8 PM and a night session from 9 PM to 4 AM [1] - The daytime trading session will continue to include pre-market, regular, and after-hours trading, with the regular market opening at 9:30 AM and closing at 4 PM [2] Group 2: Industry Trends - Other exchanges, including the New York Stock Exchange and the Chicago Options Exchange, have also announced plans for 24-hour stock trading, indicating a global trend towards more continuous trading [1] - Nasdaq's executives highlight the increasing globalization of the U.S. market, reflecting a broader shift in trading practices [1]

Macroeconomic News - The article emphasizes that expanding domestic demand is a strategic move for economic stability and security, not just a temporary measure. It is essential for maintaining long-term healthy economic development and meeting the growing needs of the people [2]. - The Ministry of Commerce and five other departments issued an action plan to promote high-quality development of service outsourcing, aiming to cultivate internationally competitive leading enterprises by 2030 [2]. Industry News - The Ministry of Industry and Information Technology officially announced the first batch of L3-level conditional autonomous driving vehicle permits, marking a significant step towards commercial application in designated areas of Beijing and Chongqing [4]. - A price increase trend has emerged among lithium iron phosphate (LFP) cathode material manufacturers, with some leading companies negotiating price hikes of 2,000 to 3,000 yuan per ton as they prepare for 2026 [6]. Company News - Changchun High-tech announced that its subsidiary signed an exclusive licensing agreement for the GenSci098 injection project, which could yield up to $1.365 billion in milestone payments [9]. - TCL Technology announced that its subsidiary TCL Huaxing plans to acquire a 10.77% stake in Shenzhen Huaxing Semiconductor for 6.045 billion yuan [13]. - The company Huaxiang announced a significant asset restructuring involving the acquisition of 100% equity in Haicheng Ruihai and 80% equity in Electric Investment Ruixiang [10].

Core Insights - The article discusses the role and advantages of futures contracts, particularly focusing on equity index futures like the Nasdaq-100 E-mini Futures (NQ) and their application in excess return indexes [2][5][24] Group 1: Futures Contracts Overview - Futures contracts are standardized agreements to buy or sell an asset at a predetermined price at a specific future date, providing liquidity and efficiency in trading [2] - They are primarily used for hedging and speculation, offering advantages such as lower upfront capital requirements, high liquidity, and reduced counterparty risk due to central clearing [10][24] Group 2: Nasdaq-100 Futures and Excess Return Index - The Nasdaq-100 Futures Excess Return™ Index (NDXNQER™) allows for systematic long-term exposure to Nasdaq-100 futures, facilitating leveraged investment through structured notes and insurance products [5][14] - NQ has been utilized as a proxy for both the broad US equity market and specific high-performing stocks, known as the "Magnificent 7," which have significantly influenced market performance [12][24] Group 3: Trading Dynamics and Market Growth - The increase in futures trading volume is attributed to technological advancements, increased retail accessibility, and the maturation of the Nasdaq-100 as a benchmark for equity investors [16][24] - The NDXNQER has achieved over 90% of the annualized return generated by the NDX index, highlighting its effectiveness in providing exposure to the Nasdaq-100 while minimizing financing costs associated with leveraged positions [20][24] Group 4: Investment Strategies and Considerations - Investors may prefer NDXNQER for leveraged exposure to the Nasdaq-100 or for a more "pure play" investment that isolates performance above the risk-free rate [21][23] - The article emphasizes that while NDX may be suitable for many investors, NDXNQER presents distinct advantages for specific investor segments, particularly in terms of transaction costs and performance metrics [20][23]

Core Viewpoint - Nasdaq plans to submit a proposal to the SEC for 24/7 stock trading, responding to increasing investor demand for continuous trading in the U.S. stock market [1] Group 1: Nasdaq's Initiative - Nasdaq is set to file documents with the SEC to initiate all-day stock trading, marking a significant step towards continuous trading [1] - The proposal aims to implement 24/5 trading by the second half of 2026, as indicated by Nasdaq President Tal Cohen [1] Group 2: Market Context - There has been a surge in demand for uninterrupted trading, prompting regulatory changes and approvals for extended trading hours [1] - U.S. stock market capitalization accounts for nearly two-thirds of the total market capitalization of publicly listed companies globally [1] - Foreign investors held a total of $17 trillion in U.S. stocks last year, highlighting the international interest in U.S. equities [1] Group 3: Competitor Actions - The New York Stock Exchange has also announced plans to transition to 24/7 trading, indicating a broader industry trend towards continuous trading [1]

Core Viewpoint - Nasdaq plans to submit a proposal to the SEC to introduce an all-day trading mechanism, extending trading hours from 16 hours to 23 hours per day, five days a week [1] Group 1: Trading Hours Expansion - Nasdaq intends to expand trading hours to five days a week, 23 hours a day [1] - The new trading schedule will consist of two trading sessions: a daytime session from 4 AM to 8 PM and a night session from 9 PM to 4 AM [1] - The daytime session will maintain the current pre-market, regular, and after-hours trading arrangements, with the market opening at 9:30 AM and closing at 4 PM [1] Group 2: Trading Week Adjustment - The trading week will be adjusted to start at 9 PM on Sunday and end at 8 PM on Friday [1] - Trades executed during the night session from 9 PM to midnight will be counted towards the next trading day [1]

Core Viewpoint - Nasdaq is planning to submit paperwork to the U.S. Securities and Exchange Commission to initiate round-the-clock trading of stocks, aiming to meet the global demand for U.S. equities [1] Group 1 - Nasdaq is one of the world's largest exchanges, hosting major tech companies such as Nvidia, Apple, and Amazon [1] - The initiative for 24/7 trading reflects a strategic move to capitalize on increasing global interest in U.S. equities [1]