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 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]