24 Exchange Secures SEC Approval for 23-Hour Trading

24 Exchange Secures SEC Approval for Innovative Trading Hours

In a groundbreaking development, 24 Exchange, a startup backed by Point72 Ventures, has gained approval from the U.S. Securities and Exchange Commission (SEC) to establish the 24X National Exchange. This marks a significant milestone as it becomes the first national securities exchange in the United States to facilitate trading for an impressive 23 hours a day, Monday through Friday.

Launch Details and Trading Hours

The launch of the 24X National Exchange is scheduled to occur in two distinct phases. The initial phase is set to kick off in the second half of 2025, during which trading hours will be available from 4 a.m. to 7 p.m. Eastern Time. This extended trading window aims to cater to the diverse needs of modern traders.

Future Plans for Extended Trading Sessions

Following the initial phase, the exchange plans to further enhance its service by upgrading the public data feed. This upgrade will facilitate the continuous operation of trading, allowing 24X to introduce nighttime trading sessions. These sessions will operate from 8 p.m. on Sunday until 7 p.m. on Friday, incorporating a one-hour break from 7 p.m. to 8 p.m. for essential software upgrades and functionality tests.

CEO’s Vision for 24X National Exchange

Commenting on this innovative move, Dmitri Galinov, the CEO and founder of 24X, emphasized the need for continuous trading opportunities. He stated, "Traders face the greatest risk when markets in their regions are closed. We aim to mitigate this issue by facilitating around-the-clock trading." Galinov's vision highlights a commitment to improving trading accessibility and reducing uncertainties for traders.

Impact on the Trading Landscape

The establishment of the 24X National Exchange is poised to revolutionize the trading landscape by enabling greater flexibility for traders across different time zones. With the ability to trade almost continually, market participants can respond more quickly to global events and market fluctuations.

Technological Innovations and Enhancements

As financial markets evolve, the integration of advanced technologies is crucial for facilitating seamless trading experiences. 24X plans to invest in state-of-the-art infrastructure to support the upcoming trading hours and ensure that traders have access to real-time market data.

Conclusion

The approval given to 24 Exchange by the SEC marks a pivotal moment in the evolution of trading in the United States. With its commitment to providing extensive trading hours and continuous operations, 24X is set to change the way traders engage with the market, addressing their needs for flexibility and accessibility.

Stay tuned for more updates as the launch date approaches and the financial community prepares for this exciting new chapter in trading.