The Securities and Exchange Commission has approved the application of 24X National Exchange LLC to register as a national securities exchange. 24X plans to operate an automated trading platform for trading listed stocks during extended hours, including overnight sessions on weekdays. The exchange will be supported by technology from MEMX Technologies and will use FINRA for certain regulatory functions. To protect investors, 24X must join several national market system plans and implement enhancements like customer risk disclosures before commencing operations.
Simple Explanation
The Securities and Exchange Commission has said yes to a new stock market called 24X that will let people trade stocks at night, like an all-night shop. But, they need to make sure it's safe for everyone and double-check their plans so nothing goes wrong.