[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-639162-105":59,"doc-detail-639162-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","market-spotlight-24-hour-trading-implications-for-markets-and-investors","Market Spotlight - 24 Hour Trading Implications for Markets and Investors","","Market Spotlight outlines the rise of “24-hour trading” in U.S. securities, driven by demand from APAC investors seeking flexibility, self-directed retail investors trading outside work hours, and participants accustomed to continuous access in digital asset markets. It explains how overnight sessions extend trading windows, including pre- and post-market participation, and why real-time portfolio adjustments support investor behavior. The report evaluates opportunities and frictions, including liquidity constraints, wider bid-ask spreads, reporting infrastructure limits, and the need for coordinated protocols, transparency, revised volatility guardrails, and improved market structure.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/market-spotlight-24-hour-trading-implications-for-markets-and-investors/639162/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/market-spotlight-24-hour-trading-implications-for-markets-and-investors/639162.png","ImageObject",300,407,{"name":92,"@type":93},"Blue Pony","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-10-22",true,{"@type":102,"interactionType":103,"userInteractionCount":34},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What is “24-hour trading” for U.S. securities?","Question",{"text":112,"@type":113},"It refers to trading U.S. securities outside core hours, such as overnight access from 8:00 p.m. to 4:00 a.m. ET, and in some cases other extended windows.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What factors are driving adoption of 24-hour trading?",{"text":117,"@type":113},"The report highlights flexibility needs from APAC investors, self-directed retail investors seeking after-work access, and investors wanting comparable continuous access to traditional markets after using 24/7 digital asset venues.",{"name":119,"@type":110,"acceptedAnswer":120},"What challenges does the report associate with overnight trading?",{"text":121,"@type":113},"It points to a limited number of liquidity providers that can reduce liquidity and widen bid-ask spreads, and it also notes constraints from current trade reporting infrastructure that may affect how trading activity is handled.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},639162,1792811334,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":34,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":39,"language":139,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":67,"update_tm":143,"read_time":46},962090760266,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","Market Spotlight: 24 Hour Trading Implications for marketsand investors  \nSamara Cohen  \nSenior Managing Director, CIO of ETFand Index Investments  \nSamantha Merwin  \nDirector  \nMarkets & Investments Advocacy  \nMatthew Brennan  \nManaging Director ETF Capital Markets  \nNhan Nguyen  \nDirector  \nGovernment Affairs & Public Policy  \nHubert De Jesus  \nManaging Director Global Trading & Market Structure  \nRob Cronin  \nVice President  \nETF Capital Markets  \nJason Warr  \nManaging Director ETF Capital Markets  \nAngelina Shen  \nAnalyst  \nETF Capital Markets  \nSummary  \nInvestors around the world, including those within the U.S., are increasingly seeking greater access to U.S. capital markets. As a result, some platforms have started to offer “overnight” trading hours for U.S. securities (e.g., the ability to trade U.S. securities from 8:00 p.m. to 4:00 a.m. ET, beyond core trading hours and existing “extended hours” sessions) .1 This trend, known colloquially as “24-hour trading,” has been heavily driven and adopted by investors in the AsiaPacific (APAC) region seeking flexibility to trade during their local market hours.2 Other drivers have been “self-directed investors”(or non-advised retail investors) within the U.S. seeking more flexibility around when they can trade (e.g., after work) and investors that have been participating in 24/7 digital asset markets who are increasingly seeking comparable continuous access in traditional financial markets.  \nThis shift in appetite and behavior is part of a broader trend in how investors are choosing to access markets today, including changes in the split of trading that happens on-exchange versus offexchange during traditional trading hours. It also reflects investors’ desire to make “real-time”adjustments to their portfolios in response to macroeconomic and geopolitical events. In addition to the growing desire for 24-hour trading, we are seeing increased participation in pre-market and post-market sessions, underscoring the demand for continuous and more flexible trading windows.  \nAs investors globally are increasingly participating in overnight trading windows, it is crucial to identify both the opportunities and challenges associated with this growing trend. While the benefits associated with 24-hour trading are appreciable (i.e. improved access and enhanced flexibility provided to investors), their realization may necessitate several changes to current market practices and structures—and, potentially, regulations—to ensure that markets continue to function efficiently and that appropriate levels of investor protections are maintained.  \nHere, we explore the current 24-hour trading landscape and offer recommendations that we believe could improve investors’ trading experience overnight. These include harmonizing protocols across exchanges and platforms, fostering increased liquidity provider participation through appropriately calibrated incentives, creating more transparency, revisiting volatility guardrails, and expanding market infrastructure to better support 24-hour trading.  \nThe 24-hour trading landscape  \nThe introduction of 24-hour trading has created continuous access to certain U.S. securities, enabling investors to trade beyond traditional market hours. This change began with the 2016 launch of Blue Ocean Technologies, an Alternative Trading System (ATS) that offers trading of select U.S. securities from 8:00 p. m. to 4:00 a. m. ET, Sunday through Thursday.3 Since the launch of Blue Ocean and other ATSs, U.S. retail brokerages have gradually started to offer 24-hour trading capabilities.  \n1  \nNM0525U-4514655-1/8  \niCRMH0525U/S-4493002-1/8  \nFor example, E*Trade and TD Ameritrade began offering access in 2018, Interactive Brokers – 81% of whose client base resides outside of the U.S.–joined in 2022, and Robinhood announced its offering in June 2023.4,5,6,7 In February 2025, Charles Schwab expanded its trading capabilities by launching 24/5 trading.8  \nMore recently, the SEC ","cbCaim9jvqOkvLGX","https://ap.wps.com/l/cbCaim9jvqOkvLGX","pdf",198502,"English","# Summary\n# The 24-hour trading landscape\n# Navigating the opportunities and challenges of 24-hour trading","[{\"question\":\"What is “24-hour trading” for U.S. securities?\",\"answer\":\"It refers to trading U.S. securities outside core hours, such as overnight access from 8:00 p.m. to 4:00 a.m. ET, and in some cases other extended windows.\"},{\"question\":\"What factors are driving adoption of 24-hour trading?\",\"answer\":\"The report highlights flexibility needs from APAC investors, self-directed retail investors seeking after-work access, and investors wanting comparable continuous access to traditional markets after using 24/7 digital asset venues.\"},{\"question\":\"What challenges does the report associate with overnight trading?\",\"answer\":\"It points to a limited number of liquidity providers that can reduce liquidity and widen bid-ask spreads, and it also notes constraints from current trade reporting infrastructure that may affect how trading activity is handled.\"}]","Market Spotlight - 24 Hour Trading Implications for Markets and Investors | PDF",1792702101]