NYSE Arca and Nasdaq to Launch Extended Trading: What Companies Should Consider

Harvard Law School Forum on Corporate Governance

Marc S. Gerber Caroline S. Kim

Beginning December 6, 2026, both the Nasdaq Stock Market and NYSE Arca are expected to extend trading hours to 23 hours per day, five days per week (23×5 trading). Skadden attorneys Marc Gerber and Caroline Kim discuss the potential impacts on corporate policies and transaction documents that reference exchange-defined trading sessions and why companies should monitor disclosure practices in light of 23×5 trading. 
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