SEC Commissioner Peirce highlights risks and infrastructure gaps in extended-hours trading

SEC Commissioner Hester Peirce noted that extended-hours trading currently represents less than 1% of NMS stock volume. With NSCC having transitioned to 24x5 clearing in June and new SEC-approved rules for extended-hours market-wide circuit breakers taking effect on Dec. 6, Peirce questioned whether the EDGAR system needs modification to ensure timely dissemination of material information during overnight sessions.