SEC Announces Agenda and Panelists for Roundtable on Preparations for 24-Hour Trading
Washington D.C., Sept. 1, 2026 —
The Securities and Exchange Commission today announced the agenda and panelists for its Sept. 17, 2026, roundtable on preparations for 24-hour trading.
The roundtable will be held at the SEC’s headquarters at 100 F Street, N.E., Washington, D.C., from 10 a.m. – 4 p.m. ET. The event will be open to the public and webcast live on the SEC’s website. Doors will open at 9 a.m. ET.
For in-person attendance, please visit the registration page. Visitors will be subject to security checks.
For online attendance, registration is not necessary; a link to watch the event will be available on Sept. 17 at www.sec.gov, and a recording will be available at a later date on the SEC’s website.
More information, including how to submit comments, is available on the SEC’s Roundtable on Preparations for 24-Hour Trading event page.
Agenda
9 a.m. Doors Open
10 a.m. Opening Remarks – SEC Chairman and Commissioners and Jamie Selway, Director, SEC’s Division of Trading and Markets
10:30 a.m. Data Presentation – SEC’s Division of Trading and Markets – Office of Analytics and Research
Presenter: Dan Mathisson
11 a.m. Panel One – Preparedness for a 24-Hour Market
Panel One will examine preparations for the launch of 24‑hour trading, focusing on exchange and broker‑dealer readiness, overnight surveillance, closing‑price processes, clearance and settlement changes, and investor‑protection practices. The panel will also highlight what has been completed, what remains, and expected liquidity conditions as markets move toward near‑continuous trading.
Moderators: Jon Kroeper, SEC Division of Trading and Markets, and Katie Kolchin, Securities Industry and Financial Markets Association
Panelists:
- Matt Billings, Robinhood
- Josh Burch, NYSE
- Hubert De Jesus, BlackRock
- JD Del Raso, Virtu Financial
- Heidi Fischer, Cboe
- Ron Hooey, BNY Pershing
- Todd Lopez, UBS
- Robert McNamee, FINRA
- Jason Wallach, Bruce Markets
12:15 p.m. Lunch Break
1:15 p.m. Panel Two – Resiliency in a 24-Hour Market
Panel Two will explore operational resiliency in a 24‑hour market, including systems readiness, Regulation SCI considerations, failover and capacity planning, market‑data continuity, shortened maintenance windows, cybersecurity, and staffing models for overnight operations. The panel will focus on how firms are preparing to maintain orderly markets during continuous trading.
Moderators: Patrick Norton, SEC Division of Trading and Markets, and Jim Toes, Security Traders Association
Panelists:
- Diwa Cody, Jane Street
- Nat Evarts, State Street
- Jiyoung Jung, Samsung
- Todd Lard, Schwab
- Chuck Mack, Nasdaq
- Steve Sosnick, Interactive Brokers
- Brian Steele, DTCC
- David Taylor, Exegy
- Quito Zuba, MEMX
2:30 p.m. Break
2:45 p.m. Panel Three – Expected Impacts and Consideration of Next Steps
Panel Three will discuss expected impacts on liquidity and capital formation as trading expands, including how market participation may evolve, potential effects on issuers, and considerations for “Day 2” regulatory and market‑structure initiatives. The panel will also look ahead to future expansions toward 24x7 trading and the infrastructure changes required to support them.
Moderators: Peggy Sullivan, SEC Division of Trading and Markets, and Adrian Griffiths, MEMX
Panelists:
- Cromwell Coulson, OTC Markets Group
- Brian Fagen, BNP Paribas
- Dmitri Galinov, 24X
- Will Geyer, Invesco
- Michael Harrington, Citadel Securities
- Naureen Hassan, DriveWealth
- Brian Hyndman, Blue Ocean
- Michael Masone, Citi
- Tim Quast, ModernIR
4 p.m. End of Program
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Last Reviewed or Updated: Sept. 2, 2026
Facts Only
* The roundtable is scheduled for September 17, 2026.
* The event will be held at the SEC headquarters in Washington, D.C., from 10 a.m. to 4 p.m. ET.
* Doors open at 9 a.m. ET.
* The agenda includes an opening remarks session and a data presentation by the Division of Trading and Markets Office of Analytics and Research.
* Panel One focuses on preparedness for a 24-hour market, examining exchange/broker-dealer readiness, surveillance, closing-price processes, clearance/settlement changes, and investor protection.
* Panel Two examines operational resiliency in a 24-hour market, covering systems readiness, Regulation SCI, failover planning, cybersecurity, and staffing models for overnight operations.
* Panel Three discusses expected impacts on liquidity and capital formation, market participation evolution, effects on issuers, and infrastructure changes for future expansions toward 24x7 trading.
* Panelists include representatives from Robinhood, NYSE, BlackRock, Cboe, BNY Pershing, UBS, FINRA, Jane Street, State Street, Samsung, Nasdaq, Interactive Brokers, DTCC, Exegy, MEMX, OTC Markets Group, BNP Paribas, 24X, Invesco, Citadel Securities, DriveWealth, Blue Ocean, and Citi.
Executive Summary
The Securities and Exchange Commission announced the agenda and panelists for a roundtable on preparations for 24-hour trading, scheduled for September 17, 2026, at the SEC headquarters in Washington, D.C., from 10 a.m. to 4 p.m. Eastern Time. The event is open to the public and will be webcast live on the SEC website, with doors opening at 9 a.m. ET.
The roundtable agenda includes opening remarks by the SEC Chairman, Commissioners, and Jamie Selway, followed by a data presentation from the Division of Trading and Markets Office of Analytics and Research. The panel sessions focus on specific areas: Panel One examines preparations for a 24-hour market, covering exchange/broker-dealer readiness, surveillance, settlement changes, and investor protection. Panel Two explores operational resiliency, focusing on systems readiness, cybersecurity, failover planning, and staffing models for continuous trading. Panel Three discusses expected impacts on liquidity and capital formation, future market participation, and necessary infrastructure changes for expanded 24x7 trading.
The event features diverse panelists representing various financial entities, including Robinhood, NYSE, BlackRock, Cboe, UBS, FINRA, Jane Street, State Street, Samsung, Nasdaq, Interactive Brokers, DTCC, Exegy, MEMX, OTC Markets Group, BNP Paribas, 24X, Invesco, Citadel Securities, DriveWealth, Blue Ocean, and Citi.
Full Take
The structure of the roundtable suggests a deliberate progression from technical preparedness to operational resilience, and finally to macroeconomic and structural implications concerning expanded trading. The sequencing—readiness $\rightarrow$ resiliency $\rightarrow$ impact—establishes a causal chain where successful execution depends on both internal systemic strength and external market consequences.
Panel One’s focus on readiness touches upon the mechanics of transition (settlement, surveillance), while Panel Two addresses the physical and digital infrastructure required to sustain continuous operations (systems, cybersecurity). This creates a necessary bridge between regulatory mandates and operational reality. The inclusion of specific entities across these panels suggests an effort to synthesize perspectives from regulated entities (NYSE, FINRA, DTCC) alongside market makers and technology providers (Cboe, Jane Street, State Street).
The shift to Panel Three moves the conversation outward, addressing liquidity, capital formation, and future infrastructure needs ("Day 2" initiatives). This structure frames the transition not merely as a technical hurdle but as an economic transformation requiring novel market structures. A key consideration is who benefits from the defined parameters of "liquidity" during this expansion and who bears the costs associated with implementing new resiliency standards. The pattern suggests an underlying concern that regulatory readiness (Panels 1 & 2) must directly translate into sustainable economic outcomes (Panel 3), implying that failure in technical preparation will result in negative capital market impacts.
Bridge questions: What specific metrics will be used to quantify the "resiliency" discussed in Panel Two across disparate institutional models? How do the proposed infrastructure changes for "Day 2" align with existing regulatory frameworks concerning systemic risk, and what are the potential conflicts between operational efficiency and investor protection? What mechanisms are proposed to ensure that anticipated liquidity increases translate into broad capital formation rather than concentrated risk exposure?