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Friday, December 12, 2025

Equity Trader Alert #2025 - 99
U.S. Market Holiday Reminder: Christmas and New Year’s

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  • Industry Announcement

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U.S. Equities and Options

Nasdaq U.S. equities and options markets will be closed on Thursday, December 25, 2025, and will close early on Wednesday, December 24, 2025 , in observance of the Christmas holiday. Nasdaq U.S. equities and options will be closed on Thursday, January 1, 2026, in observance of the New Year’s holiday.

U.S. Data Feed Products

The Nasdaq Global Index Data Service (GIDS) data feed product will be up and available at the Nasdaq U.S. data centers on Thursday, December 25 and Thursday, January 1.

In conjunction with the early U.S. market close on Wednesday, December 24, Nasdaq will adjust the closing transmission schedules for its U.S. proprietary equity and derivative data feed products. For the modified closing times for Nasdaq proprietary feeds on December 24, please refer to the Proprietary Data Feed Transmission Schedule.

While most of its U.S. products will close early on December 24, Nasdaq will observe a normal schedule for the Nasdaq Fund Network (NFN) Data Service.

Nasdaq U.S. Market Close Times

Early Closing Schedule

Nasdaq U.S. Equities NORMAL CLOSING TIME Eastern Time (ET) EARLY CLOSING TIME (ET)
BX Day Session 4:00 p.m. 1:00 p.m.
BX Extended Session 7:00 p.m. 4:00 p.m.
FINRATM/Nasdaq Trade Reporting FacilityTM Original Entry End (CQS 2 minutes earlier) 8:02 p.m. 5:02 p.m.
FINRA/Nasdaq Trade Reporting Facility Response End (CQS 2 minutes earlier) 8:18 p.m. 5:18 p.m.
Nasdaq Day Session 4:00 p.m. 1:00 p.m.
Nasdaq Extended Session 8:00 p.m. 5:00 p.m.
Level One Quotes 8:00 p.m. 5:00 p.m.
Net Order Imbalance Dissemination 3:55 p.m. 12:55 p.m.
Nasdaq Closing Cross 4:00 p.m. 1:00 p.m.
Nasdaq Quotes 8:00 p.m. 5:00 p.m.
PSX Day Session 4:00 p.m. 1:00 p.m.
PSX Extended Session 5:00 p.m. 2:00 p.m.
TRACESM 6:30 p.m. 3:30 p.m.
Trade Report .T Start 4:00 p.m. 1:00 p.m.

Please Note: All hours apply to CQS securities as well.


Nasdaq U.S. Options NORMAL CLOSING TIME (ET) EARLY CLOSING TIME (ET)
Nasdaq PHLX: Equity, Sector Based Index and World Currency Options 4:00 p.m. 1:00 p.m.
Nasdaq ISE: Equity and Sector Based Index 4:15 p.m. 1:15 p.m.
Nasdaq ISE: World Currency Options 4:15 p.m. 1:15 p.m.
Index & Exchange Traded Funds (ETF) Options 4:15 p.m. 1:15 p.m.

The following Nasdaq systems will close at their regular times:

Nasdaq Service NORMAL CLOSING TIME (ET)
Nasdaq Fund Network (NFN) (Regular) 8:00 p.m.

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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

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