Nasdaq Launches 23-Hour Equity Trading, SEC Proposes Crypto Exemptions
Nasdaq announced its plan to launch 23-hour equity trading on December 6, extending US equity trading to five days a week. This move follows approval from the Securities and Exchange Commission (SEC) in April. The new overnight session will operate between 9pm and 4am, with orders subject to static price bands based on previous closing and late-session prices.
Institutional digital-asset activity is also increasing, with the SEC proposing two capital-raising exemptions for crypto investment contracts. One exemption would allow offerings of up to $5 million over four years, while the other permits offerings of up to $75 million in a 12-month period, subject to additional disclosure and reporting requirements.
Citi is expanding its custody relationship with Aegon Asset Management, adding middle-office services for roughly $380 billion in assets under management. The bank also announced plans to launch bitcoin custody under its new Custody+ platform later this year.