Cboe Global Markets is advancing plans that could significantly lengthen the US trading day, filing a proposal with regulators to introduce near-continuous equities trading during the business week.
The exchange operator has submitted a rule change to the Securities and Exchange Commission seeking approval to offer near-24×5 trading on its Cboe EDGX Equities Exchange. A launch is tentatively targeted for December 2026, contingent on regulatory clearance and broader industry readiness.
If approved, all National Market System stocks would be eligible to trade from Sunday at 9pm ET through Friday at 8pm ET. The proposed schedule includes a one-hour nightly pause between 8pmand 9pm ET from Monday through Thursday, while trading would remain closed on US market holidays. Transactions executed during the extended session would be cleared via the Depository Trust and Clearing Corporation.
“Cboe's filing with the SEC is the latest step in ensuring we are ready to offer overnight trading once the industry launches in December. Since announcing our plans for near 24x5 trading amid growing global interest for US markets, we have been engaging with clients and market participants across the globe, underscoring the importance of collaboration throughout this process,” said Oliver Sung, Head of North American Equities at Cboe.
The initiative comes amid rising demand from both international and retail investors seeking greater access to US equities outside traditional trading hours. Cboe noted strong expansion in early-morning trading activity, with average daily volumes climbing significantly in recent years.
Currently, the exchange offers more limited extended trading windows, including pre-market sessions beginning at 4am ET on certain platforms. A near-continuous model would markedly expand opportunities for market participants to respond to global developments and manage risk in real time.
Cboe also pointed to its experience operating markets that already function on a near-constant basis — such as proprietary index derivatives and global foreign-exchange venues — as evidence of its ability to support longer equities trading hours. Activity in overnight options sessions has reached record levels this year, reflecting growing appetite for round-the-clock market access.
However, moving toward an almost always-open US stock market will require coordination across multiple parts of the trading ecosystem, including market data providers and clearing infrastructure. As part of preparations, the exchange has been working to expand distribution of its consolidated equities data feed.
The filing represents one of the clearest signals yet that extended trading could become a defining feature of the next phase of market structure, potentially reshaping liquidity patterns and investor participation on a global scale.
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