Nasdaq Plans to Launch 23-Hour Trading, Paving the Final Stretch for On-Chain Stocks and Tokenized Assets

marsbitPubblicato 2025-12-17Pubblicato ultima volta 2025-12-17

Introduzione

Nasdaq has submitted a proposal to the SEC to extend U.S. stock trading hours to 23 hours per day, effectively formalizing overnight trading. This move is seen as a step toward preparing the market infrastructure for future 24/7 on-chain stock trading and asset tokenization. Key implications include: - Improved accessibility for retail investors, enabling trading across more time zones without waiting for traditional market hours. - Enhanced performance for on-chain stock platforms (e.g., Ondo Finance, StableStock), as their broker-mediated transactions will align with extended market hours, ensuring smoother and more liquid operations. - Stronger support for DeFi protocols, as near-24-hour official pricing improves oracle reliability for lending, derivatives, and other decentralized applications. - Better risk management for brokers and market makers, who can hedge positions throughout most of the day, leading to smoother pricing and deeper on-chain liquidity. This shift signals accelerating momentum toward on-chain equities and tokenized assets.

Just saw a very interesting piece of news:

A few hours ago, Nasdaq officially filed documents with the SEC, planning to extend U.S. stock trading hours to 23 hours per day, formally incorporating the "night session" into the official trading system.

Hmm? Are you trying to set the stage for the 7x24 "on-chain stocks" and "tokenized assets" market two years from now, starting with 5x23?

Simply put, it currently looks like the image above. If approved, it will change to the image below.

If it really gets approved, the impact will be significant:

1. Retail Investors - First and foremost, the experience for retail investors will improve. No more staying up late waiting for the market to open; they can buy and sell during the day too.

And this enhanced experience isn’t limited to Futu and Tiger Brokers. It applies equally if you’re using on-chain U.S. stocks like Ondo Finance or StableStock. This is because, fundamentally, your buying and selling are executed through their brokers acting as intermediaries. This is also the underlying mechanism for "on-chain U.S. stocks having no slippage and infinite liquidity," as they are backed by the NYSE and Nasdaq. As long as broker transactions become smoother, your on-chain actions will naturally become smoother too.

2. DeFi - Previously, the low liquidity and trading volume in pre-market and after-hours sessions affected the composability of on-chain U.S. stocks in DeFi, as the price discovery mechanism was in a "downgraded mode" during non-trading hours. Now, with nearly 24-hour official markets, it will provide the most authoritative and uninterrupted "price oracle" for future DeFi protocols (such as lending and derivatives).

3. Brokers/MMs for On-Chain U.S. Stocks - These brokers and market makers will now be able to hedge in the U.S. stock market for 23 hours, making the price curve smoother. Market makers can provide deeper liquidity on-chain around the clock without worrying about extreme risks. Unlike before, where a major event or black swan during the pre-market hours left prices unreflected and nowhere to run, forcing everyone to wait for the market to open.

The era of on-chain U.S. stocks and the tokenization of everything is undeniably drawing closer.

Domande pertinenti

QWhat is Nasdaq's plan for extending trading hours, as mentioned in the article?

ANasdaq has submitted a proposal to the SEC to extend U.S. stock trading hours to 23 hours per day, effectively incorporating overnight trading into the official system.

QHow would extended trading hours benefit retail investors according to the article?

ARetail investors would have a better experience as they wouldn't need to wait for the market to open, allowing them to trade during their daytime hours more conveniently.

QWhat impact would near-24-hour trading have on DeFi protocols?

AIt would provide a more authoritative and continuous price oracle for DeFi protocols (like lending and derivatives), improving price discovery mechanisms during previously low-liquidity periods.

QHow do on-chain U.S. stock platforms like Ondo Finance achieve 'slippage-free' and 'infinite liquidity'?

AThey achieve this through brokers who execute buy/sell orders on their behalf, connecting to traditional exchanges like NYSE and Nasdaq, so extended trading hours make on-chain actions smoother.

QWhy is the extended trading window beneficial for brokers and market makers in the on-chain stock space?

AIt allows them to hedge in the U.S. stock market for 23 hours, leading to smoother price curves and deeper on-chain liquidity without worrying as much about extreme risks during off-hours.

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