When Markets Never Sleep - Extended Hours, Odd Lots, and the Infrastructure Implications of Always-On Markets
A few months ago, I wrote a blog post about Nasdaq's plans to extend trading hours and what that might mean for market data infrastructure. At the time, the discussion was largely theoretical. It was easy to dismiss it as yet another market structure change that would slowly work its way through committees, working groups, and technology roadmaps.
The more I thought about it, however, the more I realised that extended trading hours are not really about trading hours at all.
They are about a much bigger shift taking place across financial markets.
Markets are becoming more continuous. More fragmented. More data-intensive. More demanding.
And most importantly, they are beginning to expose assumptions that have been baked into market data systems for decades.
That's exactly why I'm excited to be joining KX for an upcoming webinar discussing the infrastructure implications of always-on markets. Together we'll explore what extended trading hours, odd lots, sub-penny pricing, AI-driven workflows, and increasingly continuous markets mean for firms operating in today's landscape.