SEC Approves First 24/5 US Stock Exchange for Night Trading
The SEC has approved 24X National Exchange to operate nearly 24-hour trading sessions, five days a week, marking the first US stock exchange to offer such extended hours. Backed by Steve Cohen's Point72 Ventures, the exchange aims to provide more flexibility for investors to respond to news outside traditional market hours. However, the move has sparked debate, with critics like Better Markets warning that lower trading volumes during overnight sessions could lead to more volatile and less favorable pricing for retail investors.