SEC Approves First 24/7 US Stock Exchange for Continuous Trading
The US Securities and Exchange Commission recently made a groundbreaking decision by approving the first-ever 24-hour stock exchange in the United States. This new exchange, called 24 National Exchange, is backed by billionaire hedge fund manager Steve Cohen’s Point72 Ventures and will revolutionize traditional trading hours.
The exchange will operate in two phases, with the first stage set to open in late 2025 during regular weekday market hours. After meeting specific data requirements, the second stage will expand into overnight sessions from Sunday through Thursday between 8pm and 4am (New York time). This schedule essentially means that trading could run continuously from Sunday evening to Friday evening, creating an almost seamless market.
Retail and institutional customers from around the world will be able to participate in trading US equities through broker-dealers who are approved members of 24 National Exchange. This move comes in response to increasing demand from retail investors for extended trading hours, especially from those familiar with the 24/7 cryptocurrency markets.
24 National Exchange’s CEO and founder, Dmitri Galinov, expressed excitement about the SEC approval, calling it a “thrilling development” that the team has been working towards for many years. The exchange aims to address the challenge that traders face when the market is closed in their region by providing around-the-clock trading opportunities.
While the initiative has received a mix of reactions from Wall Street, with some supporting the increased flexibility and others expressing concerns about potential risks such as reduced trading volumes during off-hours, the overall goal is to enhance accessibility and responsiveness in the market. By leveraging state-of-the-art technology from MEMX Technologies, 24 National Exchange hopes to cater to the growing demand for overnight liquidity in US equities, particularly in the Asia-Pacific region.
As with any major change in the financial markets, there are challenges and considerations to address, including potential volatility in overnight trading and the operational demands of running a round-the-clock exchange. However, the approval of the first 24-hour stock exchange in the US marks a significant milestone in the evolution of trading, opening up new possibilities for investors to engage with the market on their own terms.
