Core Viewpoint - Nasdaq plans to extend trading hours for stocks and exchange-traded products from 16 hours to 23 hours per week, aiming to meet the growing global demand for U.S. stocks [1][4][6] Group 1: Trading Hours Extension - Nasdaq will submit a proposal to the SEC on December 15 to implement nearly round-the-clock trading, with the new schedule set to begin in the second half of 2026 [2][9] - The new trading schedule will include two trading sessions: a daytime session from 4 AM to 8 PM and a nighttime session from 9 PM to 4 AM [4][5] - The trading week will start on Sunday at 9 PM and end on Friday at 8 PM [5] Group 2: Market Demand and Globalization - There has been a significant increase in investor demand for continuous trading of U.S. stocks, prompting regulatory changes and proposals from major exchanges [7][10] - Nasdaq's senior vice president Chuck Mack emphasized the globalization of markets and the need for international investors to trade according to their local schedules [7][12] - The U.S. stock market accounts for nearly two-thirds of the global market capitalization, with foreign investors holding $17 trillion in U.S. stocks as of last year [10] Group 3: Industry Trends and Challenges - Other exchanges, such as the New York Stock Exchange and Chicago Board Options Exchange, are also pursuing similar plans for extended trading hours, indicating a mainstream trend in the U.S. capital markets [2][9] - Concerns from Wall Street institutions regarding liquidity, volatility, and uncertain returns have been noted, although demand for nighttime trading has been rapidly increasing [11] - Nasdaq has previously submitted proposals for trading tokenized stocks, reflecting its commitment to innovation in response to market trends [12]

Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) is developing a plan to allow stocks to be traded on the blockchain like cryptocurrencies, facing strong opposition from traditional financial firms such as Citadel Securities [1] Group 1: Market Reactions - Circle's stock increased by over 2% [1] - Robinhood's stock rose by more than 4% [1] - Coinbase's stock saw a nearly 1% increase [1] Group 2: Regulatory Developments - The SEC is in discussions with industry representatives regarding the blockchain trading plan [1] - If approved, investors would be able to purchase tokenized stocks [1]