Börsernas handelstider i Norden: teori, evidens och policyimplikationer

Abstract

In early March 2025, Nasdaq New York announced plans to apply for extended trading hours to enable round-the-clock trading, Monday to Friday. The announcement follows similar initiatives from competing US marketplaces, most notably the New York Stock Exchange. There are several objectives behind the trend, but the primary ones are to facilitate trading for retail investors, who often find it difficult to trade outside normal working hours that conflict with stock exchange opening hours, and for professional investors in other time zones (Europe and Asia). While US marketplaces appear to be moving towards offering 24/5 trading, European marketplaces have been criticised for their relatively long trading hours. In general, trading hours are longer in Europe and shorter in the US and Asia, and Swedish marketplaces, along with many other marketplaces within the EU, including Nasdaq Copenhagen and Helsinki, (so far) have some of the world’s longest trading hours, with trading from 9:00 a.m. to 5:30 p.m. five days a week.