America’s First 24-Hour Stock Exchange Receives Operational Approval
America’s First 24-Hour Stock Exchange Receives Operational Approval
In recent news, the U.S. Securities and Exchange Commission has granted approval to 24 Exchange to operate 24X National Exchange, marking the first national securities exchange in the U.S. that allows trading of U.S. securities for 23 hours each workday. This exciting announcement was made in a statement released by the company on November 27th.
The launch of the exchange will take place in two stages. Initially, trading will occur between 4 a.m. ET and 7 p.m. ET on weekdays, starting in the second half of the upcoming year. Following this, the second stage will extend trading from 8 p.m. ET on Sundays through 7 p.m. ET on Fridays. Each trading day will include a one-hour operational pause to facilitate tests and upgrades conducted by the company.
Dmitri Galinov, the founder and CEO of 24 Exchange, expressed his enthusiasm for the SEC approval, calling it a “thrilling development.” He emphasized the customer-driven nature of the Exchange, highlighting its ability to quickly respond to market demands and client feedback. Galinov noted a common challenge faced by traders when markets are closed at their geographical location, preventing them from adjusting positions in response to sudden events.
The aim of the 24X National Exchange is to address this issue by offering around-the-clock trading. Initially, the exchange plans to enhance overnight liquidity for American equities by leveraging trading volumes from the Asia Pacific region. The innovative approach of a 24-hour stock exchange opens up new possibilities for traders and market participants to engage with securities throughout the day and across different time zones.
