Cboe Proposes Nearly 24x5 Trading for U.S. Equities: A Game Changer

Cboe's Bold Move for U.S. Equities Trading

Cboe Global Markets, Inc. (NYSE: CBOE) has made headlines with its recent proposal to the Securities and Exchange Commission (SEC) to initiate near 24x5 trading hours for U.S. equities on its Cboe EDGX Equities Exchange. This initiative is poised to reshape the trading landscape for investors seeking more flexibility, pending SEC approval and the readiness of necessary industry infrastructure.

Set to launch in December 2026, the program would allow trading of all listed National Market System (NMS) stocks from Sunday 9 p.m. ET to Friday 8 p.m. ET, with a scheduled one-hour pause from 8 p.m. to 9 p.m. ET each Monday through Thursday. This significant change highlights a growing demand for U.S. equities trading during off-traditional hours, catering to global interest in accessing these markets.

Oliver Sung, the Head of North American Equities at Cboe, stated that this proposal marks a key step in preparing for the anticipated overnight trading. He emphasized the importance of collaboration with clients and market participants worldwide, stating, "Since we announced our plans, we have actively engaged with our client base to ensure that we will be ready for the upcoming launch."

Cboe has established itself as a trailblazer in the global financial landscape and has an extensive history of implementing innovative trading solutions. The firm operates liquid derivatives and FX markets around the clock, and is poised to leverage this expertise to facilitate robust investor protection measures amid the new trading framework.

The surge in demand for U.S. equities, particularly outside normal trading hours, has been dramatic. For instance, Cboe has observed a striking 590% growth in average daily volume from February 2022 to February 2026 during its early trading hours, which already offer trading from 4 a.m. to 7 a.m. ET on select exchanges.

Over the years, Cboe has effectively managed around-the-clock trading, achieving unprecedented trading levels in its futures and options markets. Cboe's Global FX markets operate on a follow-the-sun model, ensuring consistent market access while providing client support across all time zones, further resigning its commitment to comprehensive market access.

Aside from regulatory approval, launching overnight trading necessitates enhancing market access and ensuring high-quality data accessibility. Cboe is actively working to broaden its distribution of the Cboe One U.S. Equities Feed, providing real-time market data which is regarded as vital for making informed investment decisions. In 2025, Cboe accounted for 20.2% of the U.S. equities on-exchange trading, reflecting the growing trust in its data services.

Brian McElligott, head of Cboe Data Vantage, reiterated the indispensable nature of accurate market data, remarking, "We continue to expand our U.S. equities data offerings to meet the rising demand from investors in Europe and the Asia-Pacific regions. Whether real-time, historical, or top-of-the-book data, our services help guide investors in navigating today's market complexities."

As Cboe prepares for the rollout of near 24x5 trading, this innovative step signals the firm’s commitment to adapting to evolving market conditions while enhancing investor access to U.S. equities. The focus remains on ensuring investor protection and market integrity throughout this transition.

In summary, if the SEC approves this groundbreaking proposal, Cboe will undoubtedly take a significant leap forward in making U.S. equities more accessible, setting a new standard for how trading operates in a global context. Investors worldwide should stay tuned for this exciting development in the trading world as Cboe continues to encourage market innovation and expand its offerings.

For ongoing updates and further details on this proposal, you can visit Cboe's official site at Cboe Global Markets.