Nasdaq has just submitted documents to the U.S. Securities and Exchange Commission, planning to introduce an almost around-the-clock stock trading model. In simple terms, they want to extend trading hours from the current five trading days per week with 16 hours each day to 23 hours. What does this change mean? Take a moment to consider.

Currently, Nasdaq's trading is divided into three segments: pre-market from 4:00 AM to 9:30 AM, regular trading from 9:30 AM to 4:00 PM, and after-hours from 4:00 PM to 8:00 PM. This system has been in place for a long time.

Under the new system, it will be divided into two sessions. The daytime session will run from 4:00 AM to 8:00 PM, with a one-hour window reserved for maintenance and clearing; the nighttime session will run from 9:00 PM to 4:00 AM the next day. The 9:30 AM opening and 4:00 PM closing times will still serve as key markers for the daytime session. Transactions during the nighttime (from 9:00 PM to midnight) will be counted toward the next day's trading data.

The trading week cycle will also change—trading will start at 9:00 PM on Sunday and only end at 8:00 PM on Friday when the daytime trading session closes. In other words, trading will occur almost all week long.

What does this move indicate? The American stock market is moving toward 24-hour, globalized, high-frequency trading. Simply put, it’s adopting the approach of the crypto market—no trading breaks, no time zone restrictions, and capital flowing worldwide at any time. Once, the US stock market and the crypto world were two parallel universes; now, the US stock market is beginning to operate according to the logic of the crypto market.