Nasdaq, NYSE Arca, and other four core exchanges will officially add a night trading session starting December 6, marking Wall Street's full entry into a 23-hour "all-night trading" era. This move aims to counter the "24/7 trading" cross-market competition from cryptocurrencies and prediction markets, and to accelerate the capture of incremental demand from overseas investors. At that time, US stocks will only have a one-hour closing period from 8 PM to 9 PM ET daily.

According to data from the US Securities and Exchange Commission (SEC), current night trading volume, although only accounting for about 1% of total US stock trading volume, has seen a year-on-year growth rate as high as 358%. The Depository Trust & Clearing Corporation (DTCC), responsible for US stock clearing, switched to a "24x5" model in June this year, preparing the infrastructure for expansion.