First Around-the-Clock US Stock Exchange Wins SEC Approval
Posted: Nov 29, 2024
- 24X National Exchange has won SEC approval to operate a stock exchange offering trading 23 hours a day
- The exchange aims to eventually offer around-the-clock trading for US equities
- Steve Cohen's Point72 Ventures fund is backing 24X National Exchange
- Sessions will span US daytime hours and add overnight trading with one-hour breaks starting at 7 p.m.
What do people on Reddit think?
🚨 Reddit sentiment: mixed/negative - While some see the approval as an expansion of trading opportunities, others express concerns about negative impacts on retail investors and the quality of trading. Summarized comments: - 24X National Exchange received SEC approval to operate almost 24/5 - Extended trading hours may harm retail investors due to low volume and high volatility - Concerns about the impact of overnight trades on larger positions - Comparisons made to existing extended hours offered by Robinhood and Interactive Brokers - The move seen by some as a 'nothingburger', suggesting it offers no real change to current trading hours - Some users express potential negative personal impact of around-the-clock trading - Better Markets and the Healthy Markets Association express concern about the new trading rules Stock tickers discussed: $HOOD, $IBKR, $MARA
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