24X National Exchange Plans to be the First Exchange to Offer U.S. Equities Trading 23 Hours-Per-Day on Weekdays

STAMFORD,Conn.,Nov. 28,2024 -- 24 Exchange announced today that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange's ability to comply with the Securities Exchange Act.

24X National Exchange will be subject to the SEC's ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange.

24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025,with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage,which will launch once the conditions noted above are met,will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing.

24 Exchange CEO and Founder Dmitri Galinov said: "The SEC's approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers."

As the first national securities exchange approved by the SEC to operate 23 hours each weekday,subject to the conditions noted above,24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities.

The 24X National Exchange will run on a proven,state-of-the-art technology platform provided by MEMX Technologies.The new Exchange's executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements.

"With this historic SEC approval in place,we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback," Galinov added. "We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency,speed,resilience,and adaptability that the company's financial institutional customers have long come to expect."

24X National Exchange will close on U.S. market holidays,similar to the schedules maintained by the NYSE and Nasdaq.

24 Exchange through 24X Bermuda Limited,an affiliate of 24X National Exchange,will continue to offer FX NDFs,Swaps and Spot trading to institutional clients. Since its launch in 2019,24 Exchange's multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost.

About 24 Exchange

24 Exchange allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange's mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes,24 hours a day. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/.

Media Contact:

Eric Andrus,KARV

24Xmedia@karv.global

Phone: +1 (212) 333-0275