#United States #Stamford #24 Exchange #24X National Exchange #SEC Approval

Major Breakthrough in Trading Hours: 24X National Exchange

24 Exchange has made headlines by securing approval from the U.S. Securities and Exchange Commission (SEC) to operate the groundbreaking 24X National Exchange. This new exchange plans to revolutionize trading by allowing the buying and selling of U.S. securities for an unprecedented 23 hours a day during weekdays. The decision aims to provide continuous access to trading for both retail and institutional investors globally, which has been a growing concern among traders in various regions, particularly those in different time zones.

The 24X National Exchange is set to officially open in two stages. The initial phase is expected to commence in the latter half of 2025, allowing operation from 4:00 AM ET to 7:00 PM ET on business days. Once all necessary conditions are met, the second phase will extend trading hours from 8:00 PM ET on Sundays through 7:00 PM ET on Fridays, maintaining only a brief, one-hour interruption daily for essential software updates and testing.

Dmitri Galinov, the CEO and founder of 24 Exchange, expressed his excitement regarding this milestone. “The SEC's approval is a thrilling development that my team has worked towards for many years. Traders often face the greatest risks when markets are closed in their respective locations. However, with the 24X National Exchange, we will seek to mitigate this issue by enabling extensive hours of U.S. equities trading.”

This new platform primarily targets traders within the Asia-Pacific (APAC) region, addressing an increasing demand for liquidity in U.S. equities during overnight hours. With the approval in place, 24 Exchange is poised to utilize an advanced technology platform provided by MEMX Technologies, ensuring that trading is not only efficient but also adheres to strict regulatory standards set by the SEC.

As the first national securities exchange authorized to operate for 23 hours each weekday, 24X National Exchange will ensure that it complies with all regulatory oversight and continues to offer robust investor protections. This is an important factor for traders who rely on the integrity and security of trading platforms.

The exchange will experience temporary closures during U.S. market holidays, aligning its schedule with established exchanges such as the NYSE and Nasdaq. Additionally, through its affiliate company, 24X Bermuda Limited, the firm will continue providing foreign exchange non-deliverable forwards (FX NDFs), swaps, and spot trading options for institutional clients.

In a rapidly changing financial landscape, 24 Exchange pledges to enhance the client experience by emphasizing continuous technological advancements. As emphasized by Galinov, the goal is to create a customer-driven exchange that can swiftly adapt to market demands and client feedback, ensuring speed, cost efficiency, and adaptability that financial institutions expect.

Founded with a mission to lower trading costs and facilitate the seamless exchange of various asset classes around the clock, 24 Exchange is set to transform the trading experience for its clients. Their innovative workflow caters to the unique aspects of each asset class, promising a more streamlined trading environment.

In summary, 24 Exchange's achievement in receiving SEC approval represents a significant leap-forward in the trading industry, directly catering to the evolving needs of global investors seeking greater access and liquidity. With the launch of the 24X National Exchange on the horizon, traders can anticipate a new era of trading that favors the round-the-clock nature of modern financial transactions.