24X Pushes SEC for Overnight Trading Exemption to Compete with Unregulated Venues
Event summary
- 24X National Exchange filed a response letter with the SEC on April 29, 2026, urging approval of a temporary exemption to launch overnight trading in U.S. equities.
- The exchange argues that current overnight trading occurs on less-regulated venues, and its proposal would bring investor protections to this market.
- 24X's original application for the exemption was filed on December 15, 2025, with public comments published by the SEC on February 25, 2026.
The big picture
24X's request reflects the growing demand for around-the-clock access to U.S. equities, a trend driven by global investors operating across time zones. The exchange positions itself as a pro-competitive force, aiming to bring regulatory oversight to an already active but less-transparent overnight market. Success could accelerate the shift toward 24/7 trading infrastructure in U.S. equities.
What we're watching
- Regulatory Timing
- Whether the SEC will grant the temporary exemption before Equity Data Plans are ready to handle overnight trading data.
- Market Adoption
- The pace at which traders migrate from unregulated venues to 24X's regulated overnight market, assuming approval is granted.
- Competitive Response
- How existing exchanges and alternative trading systems react to 24X's push for extended trading hours.
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