In December 2026, leading US exchanges (including Nasdaq, NYSE and 24X) are expected to begin offering live trading for cash equities on a 24x7 basis. The DTCC will already begin 23x5 clearing of these securities in June 2026.
It’s a change to trading hours, but a transformational shift in operational and processing requirements for US market participants. It will create significant new pressures on asset servicing and data processing. For those overseas, it also raises new questions about domestic market liquidity for exchanges and market participants across the world.
In episode 8 of our Xchange podcast, Barnaby Nelson (CEO), Emma Johnson (Head of Industry Advocacy and Insight) and Mark Brannigan (Head of Xchange product) talk through
What is extended hours trading (EHT)? 24 hour reactivity for investors to respond to major global events
Who is expected to use it? US retail, US institutional investors, Asian retail
What does it mean in practice? Continuous trading, daily technical 1 hour pause to replace previous extensive overnight window
What issues does it represent? Liquidity, supervision, CA, ETFs, Asian investments and more
What happens next? What is the timeline, and when do we expect it to start having major impacts
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