Nasdaq, one of the world's largest stock exchanges The exchange filed a report with the U.S. Securities and Exchange Commission on Monday (15th) local time. The Securities and Exchange Commission (SEC) has filed documents requesting the launch of "24/7 trading" services starting in 2026. Meanwhile, on the evening of December 17th (Eastern Time), the Nasdaq Stock Exchange will also host Medline, the largest initial public offering (IPO) of the year in the U.S. stock market.
Trading is available five days a week, 24/7 .
Data from Nasdaq shows that the market capitalization of the U.S. stock market accounts for about two-thirds of the total market capitalization of global listed companies, and as of last year, foreign investors held a total of $17 trillion in U.S. stocks.
Therefore, to meet the increasing demand from investors for uninterrupted trading of US stocks, Nasdaq President Tal Cohen stated as early as March of this year that the exchange had initiated consultations with regulators and expected to launch a five-day-a-week uninterrupted trading service in the second half of 2026. This filing with the SEC marks the official start of Nasdaq's process to implement five-day-a-week, 24/7 trading. Chuck Mack, Senior Vice President of Nasdaq North America, stated, "The trend of globalized trading has been ongoing for some time, and the US market itself has become increasingly global."
New York Stock Exchange and Chicago Board Options Exchange A similar 24/7 stock trading plan was recently announced.
According to the plan, Nasdaq will extend the daily trading hours for stocks and exchange-traded products (ETPs) from the current 16 hours to 23 hours, operating five days a week. Currently, Nasdaq has three trading sessions on weekdays: pre-market (4:00-9:30 AM ET), regular (9:30 AM-4:00 PM ET), and after-hours (4:00 PM-8:00 PM ET). After the adjustment to a 23-hour daily trading model, it will be divided into two consecutive sessions: daytime (4:00 AM-8:00 PM ET) and nighttime (9:00 PM-4:00 AM the next day), with one hour in between for system maintenance, testing, and trade settlement. The daytime session will still include pre-market, regular, and after-hours trading, and will retain the opening bell (9:30 AM) and closing bell (4:00 PM ET) ceremonies. During the nighttime session, trades executed between 9:00 PM and midnight will be recorded in the next day's trading records. The new trading week will begin at 21:00 each Sunday and continue until the daytime session ends at 20:00 on Friday.
Supporters of 24/7 trading argue that this move will allow investors, especially those outside the U.S., to respond more quickly to market developments outside of regular trading hours. However, major Wall Street banks are cautious, concerned that the measure could lead to decreased liquidity, increased volatility, and greater uncertainty in investment returns.
In response, Mike stated, "Trading volume and activity increase significantly when the market faces stress and volatility. We have built a highly resilient, high-throughput system capable of handling such scenarios."
The largest IPO of the year will debut on Nasdaq tonight.
Besides submitting its application, another major event for the Nasdaq this week is the listing of Medline, the largest IPO in the US this year, on the Nasdaq Stock Exchange on the evening of December 17th local time, under the ticker symbol "MDLN". After an upward adjustment of the offering size, the final pricing was locked at the high end of the recommended range, specifically issuing 216 million shares at $29 per share, aiming to raise approximately $6.26 billion, corresponding to a company market capitalization of approximately $39 billion.
Medline's current shareholders include Blackstone Group. Carlyle Group And the three private equity giants, Hellman and Friedman. Back in 2021, these three institutions jointly acquired a majority stake in Medline for $34 billion, becoming one of the largest leveraged buyouts in history.
Founded in 1966 by brothers Jon and Jim Mills, Medline manufactures and distributes medical supplies used by hospitals and physicians, including gloves, surgical gowns, and examination tables. Following the acquisition, the Mills family will remain the company's largest individual shareholders, holding 17.8% of the voting rights post-IPO. For the nine months ending September 27, the company reported revenue of $20.6 billion and net income of $977 million. In the same period last year, revenue was $18.7 billion and net income was $911 million.
Medline has secured commitments from cornerstone investors totaling up to $2.35 billion. Other investors include Viking Global Investors and Morgan Stanley . Its subsidiaries include Counterpoint Global, Janus Henderson Investors, Baillie Gifford, Capital Group, and Singapore's sovereign wealth fund GIC. Goldman Sachs ... Group, Morgan Stanley , Bank of America and JPMorgan Chase The company served as the lead underwriter for this offering, along with 21 joint bookrunners and 21 joint managers.
Media compilation data shows that in the past decade, only five companies have raised more than $5 billion in US IPOs. Medline ranks among them with over $6.2 billion, while the other four are Uber. , Lineage, Rivian Automotive and Arm Holdings.
(Article source: CBN)
