MEMX LLC, a stock exchange, has proposed a rule change to start its Pre-Market Session at 4 a.m. Eastern Time instead of the usual 7 a.m. The Securities and Exchange Commission (SEC) is considering this proposal, which is meant to align MEMX's trading hours with those of other exchanges, and has agreed to let it take effect immediately. The proposed change does not raise any new regulatory concerns, and the SEC is seeking public feedback on whether this change complies with existing laws. Interested parties have until April 1, 2025, to submit comments.
Simple Explanation
MEMX, a place where people buy and sell stocks, wants to start letting people trade earlier in the morning, at 4 a.m. instead of 7 a.m. The government group in charge, called the SEC, is okay with this idea as long as it's safe and fair, and they want to know what everyone else thinks by April 1, 2025.