New resource provides practical guidance for firms preparing for longer trading hours and evolving market structures
22 October 2026 (London): The FIX Trading Community has announced the publication of its 24-Hour Markets Industry FAQ, a practical guide developed by industry practitioners to help firms navigate the growing shift toward extended-hours and 24-hour trading.
As exchanges, trading venues and market participants continue to explore longer trading sessions, the FAQ addresses many of the questions firms are facing across trading, transparency, connectivity and post-trade workflows. Key topics covered include guidance on trading sessions and sub-session flagging, trade date considerations, order management, post-trade processing, clearing implications and operational resilience. The document also highlights how existing FIX data fields can be leveraged to support 24-hour trading models while promoting consistency across the industry.
“Once the session never closes, basic questions like which trade date a fill belongs to, or which session it printed in, become where reconciliation breaks,” said Enrico Cacciatore, Co-Chair of the FIX 24-Hour Markets Working Group and Co-Founder and Chief Product & Strategy Officer of CalcGuard Technologies. “Most of the answers already exist in FIX. This FAQ shows firms how to use the fields they already have consistently, before every venue invents its own convention.”
John Greenan, Co-Chair of the FIX 24-Hour Markets Working Group and Head, Technologies at Aquis Technologies, added: “Extended-hours trading impacts far more than matching engines and order books. It touches everything from trade processing and risk controls to client workflows and market operations. This FAQ provides a common framework that firms can use as they assess and implement longer trading hours.”
“The industry has been looking for a clear resource on this topic,” said Jim Kaye, Executive Director of FIX Trading Community. “This FAQ document reflects the expertise of market participants from across the ecosystem and demonstrates how established FIX standards can help the industry adapt to new trading models without reinventing the wheel.”
The 24-Hour Markets Industry FAQ is available now from the FIX Trading Community website at https://fixtrading.org/packages/24hr-trading-faqs/.
About the FIX Trading Community
The FIX Trading Community is the custodian of the FIX Protocol – the trading language that underpins global financial markets. An independent, non-profit, global organisation, FIX brings firms together to solve common issues and shape the evolution of financial capital markets. Through more than 40 working groups and committees in over 60 countries, FIX maintains and develops the FIX Protocol and other trading standards; helps shape regulation; and supports the industry across a wide range of global issues including digital assets implementation, AI and automation, liquidity, data quality and trading workflows. FIX’s work is only possible through the support of its members – to find out more visit www.fixtrading.org.
For further information and interviews:
Laura Ponder | laura.ponder@fixtrading.org| +44 (0) 203 950 3934
Related Coverage from Finadium
