#USA #Stamford #24 Exchange #24X National Exchange #SEC Approval

24X National Exchange: A Game-Changer in U.S. Securities Trading

In a significant milestone for the trading industry, 24 Exchange has officially received approval from the U.S. Securities and Exchange Commission (SEC) to launch the 24X National Exchange. This innovative platform promises to revolutionize how U.S. securities trading is conducted by allowing trading for an impressive 23 hours a day during weekdays. This development marks the first time a national securities exchange in the United States has been granted the ability to operate with such extensive trading hours, aiming to meet the increasing demand for after-hours trading among both retail and institutional investors.

Details of the Trading Schedule

The roll-out of the 24X National Exchange will occur in two phases. The initial phase will commence in the latter half of 2025, opening from 4:00 AM to 7:00 PM ET on business days. Following this launch, a second phase will kick in once certain conditions are met, extending trading hours from 8:00 PM ET on Sunday to 7:00 PM ET on Friday. To maintain system integrity, there will be a one-hour operational pause each trading day for routine software updates and functionality testing.

Dmitri Galinov, the CEO and founder of 24 Exchange, expressed enthusiasm about the SEC's approval, stating that the team has been working for years to make this vision a reality. According to him, this exchange will significantly reduce the risks traders face when their regional markets are closed, facilitating continuous access to U.S. stocks.

Fulfilling International Demand

The 24X National Exchange is particularly designed to cater to the growing appetite for U.S. stock liquidity from investors located in the Asia-Pacific (APAC) region. By providing around-the-clock trading options, it aims to alleviate issues that arise when markets are closed, thereby enabling smoother trading experiences for a global audience.

The exchange will operate on a high-performance, cutting-edge technology platform developed by MEMX Technologies. The leadership team is committed to enhancing customer experience through continuous innovations and improvements, ensuring that the exchange remains competitive in a fast-paced market.

"With this historic SEC approval, we aim to create a customer-centric exchange that can rapidly adapt to market demands and customer feedback," said Galinov. He further highlighted the intention to offer institutional clients the cost efficiency, speed, robustness, and agility they have long anticipated.

Market Integrity and Protection

As a newly approved national securities exchange, the 24X National Exchange will maintain constant oversight from the SEC, ensuring full investor protection. The exchange will also remain closed on U.S. holidays, aligning its operations with major financial institutions like NYSE and Nasdaq.

In tandem with the establishment of the 24X National Exchange, 24 Exchange will continue offering foreign exchange NDFs (non-deliverable forwards), swaps, and spot trading to institutional clients through its Bermuda subsidiary. Since its inception in 2019, 24 Exchange’s multi-asset platform has enabled access to greater liquidity at reduced costs through a unified trading interface.

Embracing Innovation

In light of the challenging global market conditions, 24 Exchange positions itself as a forward-thinking entity, promoting an ecosystem that allows market participants to transact seamlessly at the lowest possible costs. The company aims to redefine how assets are exchanged on global markets while fostering unique workflows tailored to various asset classes.

For more information about 24 Exchange, visit their official website at 24exchange.com. The future of U.S. securities trading is bright with the arrival of the 24X National Exchange, setting a new standard in the industry.