Nasdaq Gets SEC Green Light for Overnight Trading Session, 9 PM to 4 AM ET

Nasdaq is opening the door to the overnight tape. On April 10, 2026, the SEC approved the Nasdaq Stock Market proposal to extend its trading hours for NMS stocks and exchange-traded products from 16 hours a day, five days a week, to 23 hours a day, five days a week. That puts U.S. equities on a path toward a true global session.

What the new schedule looks like

Going forward, Nasdaq will conduct trading 23 hours per day, five days per week in two trading sessions: the separate Pre-Market, Regular Market, and Post-Market sessions will be combined into a Day Session from 4:00 AM to 8:00 PM ET, and a new Night Session will run from 9:00 PM ET to 4:00 AM ET the next calendar day.

Between 8:00 PM and 9:00 PM ET on each weekday, Nasdaq will pause trading to conduct maintenance, testing, and to process corporate actions such as mergers, stock splits, and dividends that will become effective the following trading day. In the night session, trades executed between 9 PM and 12 AM will be considered trades for the following day.

Why Nasdaq is doing this

The extended hours are meant to address a growing interest in trading during overnight hours, particularly among investors located in other time zones, and to compete with trading platforms that provide access to markets for digital assets on a 24/7 basis.

The New York Stock Exchange and Cboe Global Markets also recently announced plans to move to round-the-clock trading for stocks. The race to capture overnight flow is on.

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The plumbing still has to catch up

Nasdaq said it would launch the expanded hours only after market data systems are ready to support overnight trading. The successful rollout of round-the-clock trading hinges on upgrades to the securities information processor that displays the most accurate stock quotes on U.S. exchanges, and the central clearing hub, the U.S. Depository Trust and Clearing Corp., is scheduled to roll out nonstop clearing for stocks by the end of 2026.

Overnight trading would offer limited functionality, with fewer order types and reduced regulatory protections compared with regular market hours. Traders should expect thinner books and wider spreads in the Night Session.

What it means for traders

An overnight U.S. equities window means overseas macro prints, geopolitical headlines, and after-hours earnings reactions can be priced in real time instead of waiting for the 4 AM pre-market open. Expect more overnight gap risk, but also more chances to hedge it directly on-exchange.

Liquidity will likely be concentrated in mega-caps and the most active ETFs first, mirroring how the current pre-market behaves. Retail brokers will decide how much of this new session they pass through to clients.

Options market and stocks to watch

Watch for these names as the overnight session ramps up:

• NDAQ: Nasdaq itself stands to benefit from incremental transaction revenue if overnight volumes scale.
• ICE and CBOE: Direct competitors also moving toward round-the-clock trading; watch for their responses.
• HOOD and SCHW: Retail brokers will decide how quickly they route client orders into the Night Session, which could shift market share.
• COIN: A 23/5 equities market chips away at one of crypto’s structural edges, always-on access.

For more market-moving structural changes, keep an eye on other news.

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