Major exchanges are fundamentally restructuring how markets operate, with Nasdaq, NYSE, and CME eliminating the traditional market close across equities, crypto futures, and gold within months. Nasdaq and NYSE are extending equity trading to 22-23 hours with SEC approval secured. CME is launching continuous crypto futures and options in early 2026. Gold has already gone first with Vantage’s XAUUSD247, STARTRADER’s product, and CME’s 24-hour futures all launching within seven weeks of each other.
The critical issue isn’t access—it’s risk infrastructure. Every core risk management system relies on a daily market close as its fundamental unit of measurement. Value-at-Risk calculations, regulatory capital charges, margin resets, overnight swap pricing, and settlement cycles all depend on that daily boundary. Without a clear end-of-day, these metrics don’t disappear but become undefined. Brokerages now face the challenge of recalibrating risk models, compliance systems, and reconciliation processes built entirely around a measurement unit that is vanishing.
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FXnCO Insight
** Brokers must immediately audit their risk management infrastructure to identify dependencies on daily closes before continuous trading renders their VaR calculations and margin systems operationally meaningless.
Source: Finance Magnates