First Around-the-Clock US Stock Exchange Wins SEC Approval
- 24X exchange to offer trading 23 hours daily through workweek
- Move toward nonstop US equity trading has been controversial
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A startup stock exchange aiming to handle trades around the clock won a US watchdog’s approval to operate a venue 23 hours daily, five days a week.
24X National Exchange, which counts Steve Cohen’s Point72 Ventures fund as a backer, secured permission to start offering sessions that span the US daytime and later add overnight trading, the Securities and Exchange Commission wrote in a notice posted Wednesday. The plan would preserve one-hour breaks starting at 7 p.m.