The London Stock Exchange is preparing to launch a separate overnight venue, with exchange-traded products set to become the first securities available for near-continuous trading.
The London Stock Exchange (LSE) has announced plans to introduce trading in exchange-traded products (ETPs) for almost 24 hours a day, five days a week.
The new venue, London Stock Exchange 24, or LSE 24, is expected to begin client testing before the end of 2026. ETP trading is then scheduled to start during the first half of 2027, subject to regulatory approval.
LSE 24 will operate separately from the exchange’s existing Main Market. The Main Market will retain its current trading session between 8am and 4.30pm, while the new venue will operate between 5pm and 7.50am.
There will be a 30-minute pause between 6.30pm and 7pm to allow the exchange to complete its end-of-day processes. As a result, the service will provide near-continuous rather than completely uninterrupted trading.
The LSE said the additional session would give international investors more flexibility to respond to market-moving events, access liquidity across different time zones and manage their exposures outside conventional UK trading hours.
ETPs have been selected as the first asset class because many of the products listed in London provide exposure to international equity, bond and commodity markets. The LSE currently hosts more than 2,600 ETP listings from over 50 issuers, with £238.4bn traded through its ETP order book during 2025.
The exchange ultimately intends to expand LSE 24 to include individual equities.
Digital trading infrastructure
LSE 24 is being designed to accommodate digital, algorithmic and so-called agentic trading, where automated systems can use data and predetermined controls to manage and execute orders.
The venue is expected to combine a conventional order book with request-for-quote functionality. The latter allows an investor or intermediary to request competing prices from liquidity providers before deciding whether to trade.
LSEG also plans to connect the venue to its developing Digital Securities Depository, which is intended to support the digital issuance, settlement and servicing of securities.
Julia Hoggett, chief executive of LSE plc and head of digital and securities markets at LSEG, said the launch would provide clients with “greater flexibility beyond traditional trading hours” while supporting more connected global markets”.
The move follows a broader trend towards longer trading sessions. Deutsche Börse already offers retail investors access to shares, ETFs and other ETPs on Xetra between 8am and 10pm
Central European Time. US exchanges and retail trading platforms have also been working to extend access beyond the traditional market day.
Our view
David Batchelor, senior analyst at QuotedData, said: “This decision is a logical response to the increasingly global nature of ETF trading. Allowing investors to trade through a regulated London venue rather than waiting for the UK market to open could strengthen London’s position as an international ETP centre.
However, longer opening hours do not automatically mean better liquidity at every point in the day. When the market containing an ETF’s underlying investments is closed, market makers have less certainty over the value at which those securities will next trade. That can lead to wider bid-offer spreads or ETF prices moving temporarily above or below the value of their underlying assets.
The success of LSE 24 will therefore depend less on the headline trading hours and more on how many brokers, issuers and market makers participate. Investors may value the ability to react immediately to breaking news, particularly where related futures or foreign markets are still open, but they will need to pay close attention to spreads and the depth of the available order book.
Near-continuous access is useful, but it should not be confused with near-continuous liquidity”.
