Yahoo! Finance reports that 24 Exchange has received approval from the US Securities and Exchange Commission to launch a round-the-clock stock exchange.
It is noted that 24X National Exchange will operate as the first national securities exchange in the United States that allows trading in US stocks 23 hours a day every business day.
The extended trading day is contingent on changes to the Equity Data Plans that will facilitate trading hours at night.
At the same time, 24X National Exchange will comply with additional SEC rules confirming the exchange’s ability not to violate the Securities Exchange Act.
It is specified that the startup, backed by Point72 Ventures, will launch trading during regular hours and then introduce a night session from Sunday to Thursday as soon as a more comprehensive market infrastructure is in place.