DTCC's NSCC Goes Live With 24x5 Clearing, Opening U.S. Equities Markets Around The Clock

The National Securities Clearing Corporation (NSCC), a subsidiary of the Depository Trust & Clearing Corporation (DTCC), has extended its clearing hours to a 24x5 model, operating from Sundays at 8:00 PM ET through to Fridays at 8:00 PM ET. The change, which took effect on 29 June 2026, is designed to support overnight trading activity from Alternative Trading Systems (ATS) and exchanges, and marks a significant structural shift in the U.S. equities post-trade landscape.

The move reflects growing global demand for access to U.S. markets outside of traditional trading hours, with investors increasingly seeking flexibility to trade across multiple time zones. With the extended clearing window now live, NSCC is able to apply its central counterparty guarantee immediately to transactions executed during those hours.

Brian Steele, Managing Director and President of Clearing & Securities Services

Brian Steele, Managing Director and President of Clearing & Securities Services, DTCC said:

"Today marks a significant milestone in the evolution of the U.S. equities market. By increasing clearing hours to operate on a near-continuous basis, we are enhancing access to U.S. markets for investors around the world, while maintaining the robust risk management and resiliency capabilities that are critical to market stability."

The transition was preceded by an extended preparation period. Over the past year, DTCC worked with clients, exchanges, ATS providers and other industry stakeholders on testing, operational planning and client engagement. DTCC opened its testing environment in January 2026, requiring all consumers of its UTC real-time messages to test the required changes. All firms completed testing successfully ahead of go-live.

Brian Steele, Managing Director and President of Clearing & Securities Services, DTCC commented:

"DTCC has collaborated closely with our clients and industry stakeholders to prepare for this moment. With 24x5 trading now in place, we are enabling market participants to operate confidently in a more accessible, globally connected trading environment."

The development builds on an earlier enhancement to NSCC's operating hours introduced in September 2024, which brought clearing forward by approximately 2.5 hours. ATSs have already been leveraging that extended window. Exchanges are expected to follow with longer trading hours in late 2026, alongside planned extensions from Securities Information Processors (SIPs).

Dmitri Galinov, Founder and CEO, 24X National Exchange

Dmitri Galinov, Founder and CEO, 24X National Exchange commented:

"The expansion to 24x5 clearing is a critical enabler for continuous trading models. As a venue built to operate beyond traditional market hours, we see strong demand from global participants seeking seamless 24x5 access to U.S. equities. This development helps align clearing infrastructure with that demand and supports 24X's long-term vision of a truly around-the-clock marketplace."

Bill Capuzzi, CEO, Apex Fintech Solutions

Bill Capuzzi, CEO, Apex Fintech Solutions commented:

"NSCC's move to 24x5 clearing is a significant advancement that supports growing investor demand for broader market access. As the clearing agent for Bruce ATS, Apex is committed to enabling seamless post-trade processing and maintaining strong operational resiliency as trading activity expands across time zones."

Brian Hyndman, CEO, Blue Ocean Technologies said:

"Since Blue Ocean ATS officially launched, we've seen a meaningful shift in how global retail investors engage with U.S. equities, demanding real-time access aligned to their local markets and time zones. NSCC's move to 24x5 clearing represents a critical inflection point in that evolution, reinforcing the infrastructure needed to support sustained, around-the-clock participation and bringing us closer to a truly continuous global marketplace."

Jason Wallach, CEO, Bruce Markets said:

"The DTCC's move will add another layer of resilience by removing counterparty risk from overnight trading and encouraging broader adoption among a more diverse set of market participants. It confirms that 24/5 trading is the new standard and marks a major step forward for the industry. Today's announcement will fundamentally strengthen our financial system and affirms what we have long believed: the best markets remove friction while inviting broad and responsible participation."

Oliver Sung, Head of North American Equities, Cboe Global Markets commented:

"Cboe has long supported innovation that enhances market access and efficiency. Now that the clearing infrastructure is in place to support extended trading hours for U.S. equities, the industry will continue to build on that progress. Cboe has already successfully introduced near 24x5 trading in many of its markets and looks forward to bringing that same capability to our U.S. equities exchange next."

Gerry Miligan, Head of Americas and President, Instinet, LLC said:

"As clearing agent for Moon ATS, we recognise the importance of aligning our infrastructure with changing trading patterns as global market participation expands. To support extended-hours activity, we have strengthened our operational and risk management framework, ensuring trades are processed efficiently and reliably."

Adrian Griffiths, Head of Market Structure, MEMX said:

"MEMX supports efforts that promote greater competition, efficiency and accessibility across U.S. equities markets. NSCC's move to 24x5 clearing represents meaningful progress in modernising post-trade infrastructure, helping ensure the industry can meet growing demand for extended trading while maintaining strong operational resilience."

Cromwell Coulson, President and CEO, OTC Markets Group, Operator of Moon ATS and OTC Overnight ATS said:

"NSCC's transition to 24x5 clearing is a significant step forward in supporting always-on trading. As investor demand grows for access to NMS and OTC equities beyond traditional market hours, having a resilient post-trade infrastructure is essential. By reducing operational risk and speeding settlement processes across time zones, we can bring more global liquidity to America's financial markets."

Chuck Mack, Senior Vice President, North American Markets, Nasdaq said:

"Extending clearing hours is a critical step in modernising U.S. equity market infrastructure. As trading and operating hours adapt to an always-on environment, a resilient, continuously aligned post-trade process is essential to supporting liquidity, price discovery, and investor confidence. This milestone helps ensure markets can scale globally while maintaining the strength and integrity that investors expect."

Kevin Tyrrell, Head of Markets, NYSE said:

"DTCC's 24x5 clearing is the unlock that makes extended hours trading possible at scale. We're proud to work alongside DTCC and lead the industry to bring more investors into U.S. markets while maintaining the transparency and protections they depend on."

Michael Sanocki, CEO, RQD* Clearing said:

"NSCC's move to 24x5 clearing represents a significant advancement in supporting the continued growth of extended-hours trading. As the clearing agent supporting Blue Ocean's activity, RQD recognises that this evolution strengthens the risk management and post-trade infrastructure needed to facilitate consistent, reliable processing across a near-continuous trading cycle. It marks an important step toward enabling greater stability and scalability as participation in after-hours markets continues to expand globally."

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