Stock trading all hours, well almost 24/7, moved one step closer Wednesday after a startup received approval from U.S. regulators to open an exchange in 2025.
Stocks Could Soon Trade Through the Night After Exchange Wins SEC Approval
By Rupert Steiner
Nov 28, 2024, 12:12 pm EST
Stocks Could Soon Trade Through the Night After Exchange Wins SEC Approval
Stock trading all hours, well almost 24/7, moved one step closer Wednesday after a startup received approval from U.S. regulators to open an exchange in 2025.
The Securities and Exchange Commission has approved an application from 24X National Exchange that allows the trading of U.S. securities 23 hours a day, five days a week, but not at weekends.
Trading crypto 24 hours-a-day has become the norm among younger investors, along with currencies and bonds, and stocks could be seen as a natural progression.
- Already platforms such as Robinhood Markets and Charles Schwab have expanded trading hours.
The new exchange will be open to both retail and institutional investors looking to trade in U.S. equities anywhere in the world via broker-dealers. It will be launched in two stages.
Dmitri Galinov, chief executive and founder warned in a press release that traders are most at-risk when the market is closed in their geographic location and the new service will seek to alleviate that problem by “facilitating round-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”
- The first part will open in the second half of 2025, with the exchange operating from 4 a.m. eastern to 7 p.m. on weekdays.
- Once regulatory checks and balances are met the second stage will see trading operate 23 hours each weekday with a one-hour pause to update software.
Dmitri Galinov, chief executive and founder warned in a press release that traders are most at-risk when the market is closed in their geographic location and the new service will seek to alleviate that problem by “facilitating round-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”
Write to Rupert Steiner at rupert.steiner@barrons.com
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