24 Exchange Receives SEC Approval for New National Securities Exchange, “24X National Exchange”

 24 Exchange today announced that it has received approval from the U.S. Securities and Exchange Commission to launch 24X National Exchange as the first national securities exchange in the United States that allows trading of U.S. securities 23 hours per business day. The extension of trading hours is subject to the condition that Equity Data Plans makes changes that would facilitate overnight trading hours and that 24X National Exchange makes a supplemental rule filing with the SEC confirming the changes and the exchange’s ability to comply with the Securities Exchange Act.

24X National Exchange will be subject to the SEC’s ongoing regulatory oversight and full range of investor protections. 24X National Exchange will allow retail and institutional clients worldwide to trade U.S. equities through broker-dealers approved by the Exchange. 

24X National Exchange will be introduced in two phases. The first phase will open in the second half of 2025, with the exchange operating from 4:00 a.m. ET to 7:00 p.m. ET on business days. The second phase, which will launch once the aforementioned conditions are met, will allow trading of U.S. equities from Sunday at 8:00 p.m. (Eastern Time) to Friday at 7:00 p.m. (Eastern Time). A one-hour operational pause will be observed during each trading day to allow for routine software updates and functionality testing.

24 Exchange CEO and Founder Dmitry Galinov said, “The SEC approval of our new exchange is an exciting development that the 24X team has been working toward for many years. Traders face the most risk when the market is closed in their geographic region. 24X National Exchange will seek to alleviate this challenge by facilitating 24-hour trading of U.S. equities for brokers and their institutional and retail clients.”

As the first national securities exchange approved by the SEC to operate 23 hours a day on weekdays, subject to the above conditions, 24X National Exchange will initially focus on meeting the Asia-Pacific region’s growing demand for overnight liquidity in U.S. equities.

24X National Exchange will operate on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new exchange’s management team will place a strong focus on enhancing the customer experience through continuous technological innovation and enhancements.

“With this historic approval from the SEC, we will build and operate a customer-centric exchange that can quickly align with market demands and adapt to customer feedback,” added Mr. Galinov. “We look forward to delivering a superior trading experience to our global customers. 24X National Exchange will deliver the cost-effectiveness, speed, resiliency and adaptability that the company’s financial institutional clients have long expected.”

24X National Exchange will close on U.S. holidays, as do the NYSE and Nasdaq.

24 Exchange, through 24X Bermuda Limited, a subsidiary of 24X National Exchange, will continue to offer non-deliverable foreign exchange forwards, swaps and spot trading to institutional clients. Since its launch in 2019, 24 Exchange’s multi-asset offering through a single trading interface has enabled clients to access increased liquidity at a lower cost.

About 24 Exchange

24 Exchange enables market participants to trade their exposures transparently and at the lowest possible cost. 24 Exchange’s mission is to enable its members to initiate the most cost-effective transactions across a growing range of asset classes, 24 hours a day. 24 Exchange reduces the cost of trading assets in global markets while offering creative and unique workflows tailored to each asset class. More information is available at: https://24exchange.com/ .

Press contact:
Eric Andrus , KARV
24Xmedia@karv.global
Tel. : +1 (212) 333-0275