Cboe Global Markets filed a proposal with the SEC on Monday to launch near 24×5 U.S. equities trading on its Cboe EDGX Equities Exchange, targeting a December 2026 launch, contingent on regulatory approval and infrastructure readiness.
The filing outlines a proposed schedule running from Sunday 9 p.m. ET to Friday 8 p.m. ET, with a one-hour operational pause from 8 p.m. to 9 p.m. ET Monday through Thursday. All listed NMS stocks would be eligible. Trades are planned to clear through the Depository Trust and Clearing Corporation. US market holidays are excluded.
The “near 24×5” label refers to the daily pause, meaning trading is not fully continuous, and the model does not extend into weekends. The one-hour gap gives the venue a daily reset while preserving an almost uninterrupted trading week.
Demand case
Cboe currently offers early trading from 4 a.m. to 7 a.m. ET on two of its four US equities exchanges, including EDGX. That segment has seen 590% average daily volume growth between February 2022 and February 2026, according to the company. In 2025, Cboe’s four exchanges accounted for 20.2% of U.S. on-exchange equities trading.
The exchange operator also pointed to record volumes in its proprietary index options during Global Trading Hours, which run from 8:15 p.m. to 9:25 a.m. ET, as evidence that investors want access outside regular sessions.
“Cboe has a strong track record of operating liquid, around-the-clock derivatives and FX markets, and will leverage that expertise to ensure robust market and investor protections are in place,” said Oliver Sung, Head of North American Equities at Cboe.
Infrastructure dependencies
The filing does not mean the model is live. Cboe stated the launch remains contingent on the readiness of required industry infrastructure providers, alongside SEC approval. The company said it plans to leverage its Cboe One U.S. Equities Feed for consolidated real-time data across its four exchanges to support overnight sessions, and intends to apply the “follow-the-sun” operations model it already uses for Cboe FX.
Cboe is not the only major venue pursuing overnight equities. Reuters reported that Nasdaq previously signalled plans to file for round-the-clock trading in December 2025. The formal SEC filing places Cboe on the record in what is becoming a broader exchange buildout around U.S. overnight equity access.
