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Extended-hours trading
Extended-hours trading is stock trading that happens either before or after the normal trading hours of a stock exchange, i.e. pre-market trading or after-hours trading.
Since 1985, the regular trading hours for major exchanges in the United States, such as the New York Stock Exchange and the Nasdaq Stock Market, have been from 9:30 a.m. to 4:00 p.m. Eastern Time (ET).〔(【引用サイトリンク】title=About Us: History )〕 Pre-market trading occurs from 4:00 a.m. to 9:30 a.m. ET.〔(【引用サイトリンク】title=Nasdaq Trading Schedule )〕 After-hours trading on a day with a normal session occurs from 4:00 p.m. to 8:00 p.m. ET.〔
Trading outside regular hours is not a new phenomenon but previously was limited to high-net-worth investors and institutional investors like mutual funds.〔(【引用サイトリンク】url=http://www.sec.gov/investor/pubs/afterhours.htm )〕 The emergence of private trading systems, known as electronic communication networks (ECNs), has allowed individual investors to participate in after-hours trading.
Financial Industry Regulatory Authority (FINRA) members who voluntarily enter quotations during the after-hours session are required to comply with all applicable limit order protection and display rules (e.g., the Manning Rule and the SEC order handling rules).
==See also==
* List of market opening times
* List of stock exchanges
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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