Cboe Files Proposal with the SEC to Launch Near 24×5 U.S. Equities Trading

Cboe Global Markets, Inc., a leading global markets operator and pioneer in equity derivatives, announced it submitted a proposal to the Securities and Exchange Commission (SEC) to launch near 24×5 U.S. equities trading on its Cboe EDGX Equities Exchange (EDGX). Cboe is preparing to launch in December 2026, pending regulatory approval of its filing, and contingent upon the readiness of required industry infrastructure providers.

In its filing, Cboe outlines its plans to make all listed NMS stocks available for trading on EDGX from Sunday 9 p.m. ET to Friday 8 p.m. ET, with a one-hour operational pause 8 to 9 p.m. ET Monday through Thursday. This will allow for near 24×5 trading, excluding U.S. market holidays. All trades are planned to be cleared through the Depository Trust and Clearing Corporation (DTCC).

“Cboe’s filing with the SEC is the latest step in ensuring we are ready to offer overnight trading once the industry launches in December. Since announcing our plans for near 24×5 trading amid growing global interest for U.S. markets, we have been engaging with clients and market participants across the globe, underscoring the importance of collaboration throughout this process,” said Oliver Sung, Head of North American Equities at Cboe. “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.”

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Demand for U.S. equities outside of traditional trading hours has grown significantly over recent years, evidenced by the growth in Cboe’s U.S. Equities Early Trading Hours volumes. Cboe currently offers trading from 4 a.m. ET to 7 a.m. ET on two of its four exchanges, including EDGX, and has seen a 590% average daily volume (ADV) growth from February 2022 to February 2026.

Cboe has successfully operated around-the-clock trading through its proprietary index futures and options and its Global FX markets for several years. Trading in Cboe’s proprietary index options during Global Trading Hours (8:15 p.m. to 9:25 a.m. ET) is at record levels in 2026, as investors look to hedge positions or reposition as needed, particularly during pre-market news. Cboe FX, which offers a true 24×5 market, operates a follow‑the‑sun operations model with continuous operational coverage, incident response, and client support across all global time zones.

Outside of regulatory approval and infrastructure readiness, critical components to launching overnight trading include increasing market access and the availability of high-quality, real-time data. Cboe continues to expand distribution of its Cboe One U.S. Equities Feed, which offers consolidated, real-time market data from Cboe’s four U.S. equities exchanges. In 2025, Cboe’s four exchanges accounted for 20.2% of U.S. equities on-exchange trading.

“Cboe understands that accurate and reliable market data is the foundation for making informed investment decisions,” said Brian McElligott, Head of Cboe Data Vantage. “We continue to focus on expanding the availability of our U.S. equities data offerings, reflecting the strong desire for access to U.S. markets from Europe and APAC investors. Whether it’s real-time, top-of-book, or historical data, Cboe Data Vantage is helping investors navigate today’s markets and prepare for U.S. equities overnight trading.”

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