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

SEC Approval Paves the Way for 24X National Exchange

In a groundbreaking development for the financial sector, 24 Exchange has officially received the green light from the U.S. Securities and Exchange Commission (SEC) to launch the 24X National Exchange. This new platform aims to redefine stock trading by offering extended hours from 8 AM to 7 PM ET on weekdays, with plans for around-the-clock trading to meet the growing global demand for liquidity in U.S. equities.

The innovative exchange is poised to be the first of its kind in the United States, allowing trading for 23 hours on business days, a significant leap forward in providing accessibility for traders worldwide. This extended trading capability aims to cater especially to investors who might find themselves at a disadvantage when U.S. markets are closed due to geographical disparities.

Two-Phase Launch Strategy

The launch of the 24X National Exchange will occur in two distinct phases. The initial phase will commence in the latter half of 2025, providing trading opportunities during traditional business hours. The second phase, which is contingent upon certain conditions being met regarding data plans, will extend trading hours from 8 PM ET on Sundays until 7 PM ET on Fridays.

This plan not only includes a standard trading schedule but also considers operational breaks of one hour each trading day to facilitate routine system maintenance and software upgrades. Dmitri Galinov, the CEO and founder of 24 Exchange, believes this initiative demonstrates a commitment to adapting fast to market needs while enhancing the trading experience through technological advancements.

Addressing Market Gaps

The announcement of the 24X National Exchange reflects an understanding of the evolving trading landscape, particularly highlighted by Galinov's statement regarding traders’ vulnerabilities when primary markets close. "Traders face significant risks during off-hours, and our exchange aims to mitigate that by making U.S. stocks accessible 24/5 basis," he commented.

Moreover, by focusing on overnight liquidity, especially targeting the APAC region, the exchange intends to capitalize on market gaps and provide institutional and retail investors a competitive edge. The exchange will operate under SEC regulations, ensuring that investor protections are prioritized at every level.

Cutting-Edge Technology and Customer Focus

Built on a sophisticated technology platform from MEMX Technologies, the 24X National Exchange aspires to provide a seamless customer experience. The leadership team is dedicated to leveraging advanced technology and continuous innovations to meet market demands efficiently.

Galilov emphasized the importance of being adaptable and responsive to feedback, highlighting, "With this historic SEC approval, we can create a customer-driven exchange that quickly adapts to market demands and enhancements. We anticipate delivering an exceptional trading experience that institutional clients have been seeking."

The exchange is expected to observe U.S. holidays akin to the trading schedules of NYSE and Nasdaq. In addition to the new exchange, 24 Exchange continues to provide FX NDFs, swaps, and spot trading via their Bermuda limited subsidiary, further enhancing its multi-asset offering.

The Future of Stock Trading

Since its inception in 2019, 24 Exchange has been on a path to minimize trading costs and enhance access to liquidity. The establishment of the 24X National Exchange represents a significant milestone in their mission to provide the most cost-effective trading solutions across various asset classes, 24 hours a day. With a vision to revolutionize how market participants interact in the trading sphere, 24 Exchange is set to play a pivotal role in shaping the future of stock trading.

For more detailed information about their services and the upcoming launch, interested parties can visit 24exchange.com.