Nasdaq is preparing to extend trading in US equities on its exchange to nearly 23 hours a day from next month, a landmark shift that will bring Wall Street into real-time competition with Asian markets.
The expansion, slated for launch on December 6, introduces an overnight window running from 9pm to 4am Eastern Time. During US winter time, that corresponds to 10am to 5pm in Hong Kong and Beijing, directly overlapping with normal trading hours across China.
The US Securities and Exchange Commission approved the plan in April, though the launch still depends on market data systems and further rule changes. Nasdaq had said the move was designed to meet growing demand from investors in Asia.