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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

SEC Approves America's First 23-Hour Stock Exchange Backed By Steve Cohen For 2025 Launch

Steve Cohen Exchange SEC America United States Steven A Cohen Charles Schwab Nasdaq NYSE APAC
The NYSE and Charles Schwab also plan to extend trading hours due to growing demand. (Credit: energepic.com/Pexels.com)

The US Securities and Exchange Commission (SEC) approved America's first round-the-clock national securities exchange yesterday, according to a press release. The 24X National Exchange will be set up in two phases. The first stage, expected to be implemented in the second half of 2025, would enable trading of US-listed shares between 4 a.m. and 7 p.m. ET on all weekdays.

Meanwhile, the second stage will allow stock trading from 8 p.m. Sunday through 7 p.m. ET Friday. However, there would be a one-hour break starting at 7 p.m. each operational day for software patches and routine testing of infrastructure functionality, meaning that the exchange will be live for 23 hours daily, five days a week.

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