Trade around the clock: SEC approves the 24X National Exchange
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The New York Stock Exchange (NYSE:ICE) and Nasdaq (NASDAQ:NDAQ) are watching closely as the SEC approved the first U.S. stock exchange that would operate during most hours of every weekday.
The 24X National Exchange, started by hedge-fund billionaire Steve Cohen, has the potential to shake up market dynamics, with many brokers already switching to extended trading and nonstop trading of select stocks. The newly approved exchange would operate 23 hours daily (including a break from 7 PM to 8 PM), and five full days a week (from Sunday evening to Friday evening).
“The SEC’s approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years,” CEO Dmitri Galinov said in a statement. “We look forward to bringing a superior trading experience to global customers.” The exchange intends to launch in stages, starting in the second half of 2025.
While crypto has always traded around the clock, and many futures do as well, things have always been different when it comes to the U.S. stock market. Many felt that better price discovery happens when most Americans are awake, and a shift to 24/7 trading could hurt volumes or increase volatility. That’s now changing.
Related brokers: Robinhood (HOOD), Interactive Brokers (IBKR), Charles Schwab (SCHW), E-Trade (MS) and Cash App (SQ).