The 24X National Exchange has received approval from the SEC to operate a 23-hour trading session, five days a week. This is a significant development, as it aims to provide more flexibility for investors by allowing trading from 4:00 AM to 7:00 PM ET initially, with plans to expand to overnight trading once certain conditions are met.
However, groups like Better Markets have raised concerns that this extended trading could harm retail investors. They argue that trading during overnight sessions may lead to lower liquidity, higher volatility, and less favorable prices for retail investors.
The SEC APPROVES THE 23 HOUR STOCK EXCHANGE THAT @BetterMarkets WARNED IS BAD FOR RETAIL INVESTORS AND FINANCIAL MARKETS
"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… pic.twitter.com/FXWgZ9LrFq
— kristen shaughnessy (@kshaughnessy2) November 28, 2024
ALL DAY TRADING IS COMING??
This startup stock exchange just won approval from the 🇺🇸 SEC to allow nonstop trading 23 hours a day, 5 days a week
The 24X National Exchange plans to only close trading between 7PM ET – 8PM ET. The exchange will start by adding daytime trading and… pic.twitter.com/eIyqSoxmjB
— Evan (@StockMKTNewz) November 28, 2024
https://www.sec.gov/news/press-release/2024-272
https://www.reuters.com/markets/us-sec-approves-24x-national-exchange-23-hour-trading-2024-11-27/
https://www.bettermarkets.org/newsroom/better-markets-opposes-approval-of-24x-national-exchange/