Extended hours trading

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Not to be confused with Late trading.

Extended hours trading is stock trading that happens either before or after the normal trading hours of a stock exchange, either pre-market trading or after-hours trading.

After-hours trading is trading that occurs after the traditional trading hours of the major exchanges, such as the New York Stock Exchange and the Nasdaq Stock Market. Since 1985, the regular trading hours in the United States have been from 9:30 a.m. to 4:00 p.m. Eastern Time (ET).[1]

Example chart of extended hours trading, via Google Finance

Trading outside these regular hours is not a new phenomenon but previously was limited to high-net-worth investors and institutional investors like mutual funds.[2] The emergence of private trading systems, known as electronic communication networks or ECNs, has allowed individual investors to participate in after-hours trading.

After-hours trading on a day with a normal session occurs from 4:00 p.m. to 8:00 p.m. ET.[3]

Trading also occurs before the traditional trading hours and is known as pre-market trading. Pre-market trading occurs from 4:00 a.m. to 9:30 a.m. ET.[4] Financial Industry Regulatory Authority (FINRA) members who voluntarily enter quotations during the after-hours session are required to comply with all applicable limit order protection and display rules (e.g., the Manning rule and the SEC order handling rules).[5]

See also[edit]


  1. ^ "About Us: History". NYSE. Retrieved 2007-04-11. 
  2. ^ "SEC.gov". United States Securities and Exchange Commission. 
  3. ^ "Nasdaq Trading Schedule". NASDAQ. Retrieved 2011-08-02. 
  4. ^ "Nasdaq Trading Schedule". NASDAQ. Retrieved 2011-08-02. 
  5. ^ Barclay, Michael J. (2003). "Price Discovery and Trading After Hours". University of California, Berkeley. 

External links[edit]

 This article incorporates public domain material from the United States Government document "http://www.sec.gov/investor/pubs/afterhours.htm".