The securities information processors (SIPs) committees, made up of the Consolidated Tape Association (CTA) and Unlisted Trading Privileges (UTP) Plan, voted on whether to approve four proposals for extended trading hours from 24X National Exchange, Nasdaq, CBOE, and the New York Stock Exchange (NYSE).
None of the proposals reached unanimous consensus, according to multiple sources with knowledge of the vote, cited by Waters Technology, effectively halting efforts to expand exchanges’ trading hours.
Sources with knowledge of the voting told Waters Technology that NYSE and Nasdaq voted against each other’s proposals. Representatives for Nasdaq, CBOE, NYSE, 24X, either declined to comment or did not respond in time for publication. A spokesperson for the SIPs collective also declined to comment.
The National Securities Clearing Corporation, a subsidiary of the Depository Trust and Clearing Corp. (DTCC), provides clearing and settlement in the US and would also need to extend its hours and the clearinghouse is working toward providing 24×5 clearing in the second quarter of 2026.
A source familiar with the voting process says the failed vote indicates that there are still outstanding questions for markets to answer if they want to move forward.