US Approves First 24-Hour Stock Exchange
Originally Published 1 year ago — by Financial Times
The US Securities and Exchange Commission has approved the first 24-hour stock exchange, 24 Exchange, backed by Point72 Ventures. Initially, it will operate during regular hours before expanding to overnight sessions. This move aims to accommodate retail investors who prefer trading outside traditional hours, similar to cryptocurrency markets. The approval marks a shift towards a "lit" market, where trades and prices are officially recorded, contrasting with "dark pools." The decision follows a previous application rejection and coincides with the New York Stock Exchange's plans to extend its trading hours.