Trades Reconstructed

A readiness reckoner for the 23×5 trading day

The US equities session is extending to 23 hours a day, five days a week. Each box below states an obligation the change creates, ties it to its primary source, marks it settled, pending, or still to verify, and shows whether it is a binding obligation or a FINRA effective practice.

Filter by audience, lifecycle stage, status, and type. The obligations bind FINRA member broker-dealers; where one also reaches investment advisers, the box adds a note to assess it under the Advisers Act. Status separates what to build now from what to watch; type separates binding obligations from FINRA effective practices. This is a reference for informational use, not advice.

23×5 refers to exchange trading: a 23-hour day, five days a week, with a one-hour pause. 24×5 refers to clearing and trade-processing availability, which NSCC already runs from Sunday 8:00 p.m. to Friday 8:00 p.m. ET.

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