New stock exchange aiming to offer 23-hour trading set to launch in 2025

Source: CNBC

Published Fri, Nov 29 2024 12:41 PM EST Updated 4 Hours Ago


A new stock exchange launching next year is on track to offer nearly round-the-clock trading on business days, pending final regulatory approvals, 24 Exchange announced late Wednesday.

The 24X National Exchange will debut in the second half of 2025, with trading from 4:00 a.m. ET to 7:00 p.m. ET on weekdays, the Stamford, Connecticut-based platform said. That can be expanded to 8:00 p.m. ET on Sunday through 7:00 p.m. ET on Friday, with a one-hour pause each day, once the exchange clears some final hurdles with the U.S. Securities and Exchange Commission.

The arrival of 24X is part of a broader push toward a wider window of time for stock trading. Certain brokerage firms, including Robinhood Markets and Interactive Brokers, already offer extended trading on certain securities to their clients. The trend has coincided with the rise of cryptocurrencies, which trade constantly across the world, never closing for weekends or holidays.

“Traders are most at-risk when the market is closed in their geographic location,” 24 Exchange CEO and Founder Dmitri Galinov said in a press release. “24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”

Read more: https://www.cnbc.com/2024/11/29/new-stock-exchange-aiming-to-offer-23-hour-trading-set-to-launch-in-2025.html