America's Securities and Exchange Commission (SEC) has approved the first stock exchange offering 24-hour trading, a move set to transform the trading of New York-listed shares.
The 24 Exchange start-up, funded by Steve Cohen’s Point72 Ventures, plans to start with regular trading hours before introducing overnight sessions Sunday through to Thursday.
This marks a significant step towards continuous stock trading, driven by growing demand from retail investors used to round-the-clock access to cryptocurrencies.
Unlike private “dark pools”, 24 Exchange will operate as a regulated marketplace where trades are public and prices are recorded, providing transparency for investors.
CEO Dmitri Galinov called the development exciting and noted the exchange aims to reduce risks during market closures. Before overnight trading begins, 24 Exchange must coordinate with existing exchanges to integrate its pricing data.