24 Exchange, backed by Steve Cohen’s Point72 Ventures fund, had filed with the US Securities and Commission Exchange to launch the first round-the-clock exchange. In the filing 24X said it plans to operate a fully automated electronic trading platform for the trading of listed NMS stocks 23 hours per day, 7 days per week, including certain holidays.
24 Exchange Receives SEC Approval of its New National Securities Exchange, “24X National Exchange”
24 Exchange announced that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange’s ability to comply with the Securities Exchange Act.
24X National Exchange will be subject to the SEC’s ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange.
24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025, with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage, which will launch once the conditions noted above are met, will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing.
24 Exchange CEO and Founder Dmitri Galinov said: “The SEC’s approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”
As the first national securities exchange approved by the SEC to operate 23 hours each weekday, subject to the conditions noted above, 24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities.
The 24X National Exchange will run on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new Exchange’s executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements.
“With this historic SEC approval in place, we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback,” Galinov added. “We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency, speed, resilience, and adaptability that the company’s financial institutional customers have long come to expect.”
24X National Exchange will close on U.S. market holidays, similar to the schedules maintained by the NYSE and Nasdaq.
24 Exchange through 24X Bermuda Limited, an affiliate of 24X National Exchange, will continue to offer FX NDFs, Swaps and Spot trading to institutional clients. Since its launch in 2019, 24 Exchange’s multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost.
Source: 24 Exchange
Ten Trends Shaping AI-driven Data Analytics in 2025
2024 has been another year of unprecedented growth for AI and machine learning across the financial services industry, with a staggering 80% of trading firms now using this cutting edge technology.[1] As we head into 2025, what will be the trends that dominate the industry as firms continue to leverage this technology and harness the power of transaction and market data? Mosaic Smart Data CEO Matthew Hodgson gives his top ten predictions for the year ahead.
1. AI-Driven Decision-Making
“Investment banks will increasingly rely on AI-driven insights for decision-making, moving from historical data analysis to predictive analytics. AI models will be used by a growing number of trading firms to process vast amounts of unstructured data, improving forecasting and strategic planning.”
2. Hyper-Personalised Client Engagement
“Using data analytics, investment banks will continue to improve their ability to offer hyper-personalised experiences tailored to clients’ investment preferences, risk profiles, and financial goals. This kind of personalized advisory will enable banks to deliver tailored solutions, deepen relationships, and anticipate client needs, boosting engagement and retention.”
3. Real-Time Decision-Making
“Real-time data platforms will drive quicker, more informed decisions in trading, risk management, and client interactions, optimising performance and reducing latency in execution. Coupled with machine learning, this will enhance risk assessment, allowing banks to manage risks on a transaction-by-transaction basis. Predictive analytics will increasingly be used to flag potential risks before they impact the bank’s portfolio.”
4. Digital Transformation in Sales and Trading
“Digital tools and advanced analytics will automate workflows, optimise trade execution, and provide insights to increase sales performance and maximise profitability across asset classes.”
5. Optimised Liquidity Management
“Banks will use data to better predict liquidity needs, align inventory with client demand, and improve balance sheet efficiency, particularly in fixed-income markets. Promoting inventory to the most probable client demand will become table stakes.”
6. AI-Powered Compliance and Surveillance
“Machine learning will enable the integration of transaction and communication surveillance, enabling better detection of fraud, insider trading, and other compliance risks to increase the identification of bad actors.”
7. Cross-Silo Data Integration
“Investment banks will focus on breaking down internal silos by integrating data across business units, enabling holistic insights into client activity, profitability, and operational efficiency. This will significantly improve sales effectiveness to cross sell products across asset classes.”
8. Client Profitability Analytics
“Banks will adopt more sophisticated client profitability tools, analysing granular transaction data to identify high-value relationships and allocate resources more effectively.”
9. Expanding Use of Alternative Data
“Non-traditional data sources, such as social media sentiment, satellite images, and climate data, will play a more significant role in investment strategies. Banks will leverage this alternative data to gain insights into market trends and investment opportunities to drive alpha generation.”
10. Harnessing innovation to drive cost-effectiveness
“Rather than viewing innovation as a ‘nice to have’ expense, firms will increasingly look to new technologies to drive the efficiency and cost-effectiveness of their operations, with a laser focus on ROI for any new solutions they deploy.”