Nasdaq and peer exchanges have secured conditional SEC approvals and completed key infrastructure upgrades, including extended SIP operating hours and NSCC clearing availability, positioning the 23-hour, five-day trading model for launch on December 6. This near-round-the-clock schedule responds to sustained global investor demand and competition from crypto venues, with overnight sessions from 9 p.m. to 4 a.m. ET layered onto existing extended hours. Market-implied odds near 93 percent reflect trader confidence in timely execution given regulatory and systems readiness. Potential hurdles include limited overnight liquidity, settlement complexities across trading days, and the one-hour daily pause that stops short of true 24/7 operations, though these factors appear unlikely to delay the December start.