NYSE CEO Lynn Martin, speaking at the World Economic Forum in Davos, championed the resilience of US capital markets. She advocated for a shift toward a 23/5 trading model, arguing for extended trading hours to match global demand and modernize market structure.

This move targets current market fragmentation, where after-hours trading lacks liquidity and transparency. A 23/5 model could consolidate activity, potentially reducing costs for institutional investors and aligning US exchanges with competitors in Asia and Europe. The goal is to capture more international order flow.

The discussion underscores ongoing debates about market efficiency versus operational risks. Regulators and exchanges will need to weigh enhanced access against potential volatility and infrastructure strain. Martin's proposal signals a push for innovation in a sector facing intense competition from private markets and crypto venues.