24 Exchange 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 the SIP go live, 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.

First Stage: Opening in the second half of 2025, with the Exchange operating from 4:00 AM ET to 8:00 PM ET on weekdays.

Second Stage: Once the Implementation of the 23/5 SIP is launched trading will be from 8:00 PM EST on Sunday through 8:00 PM EST on Friday.

Initial Trading Hours: 4:00 AM - 8:00 PM ET

Future Expansion: 23/5 trading availability

Available Securities: All NMS products listed on National Exchanges

Platform Integration: MEMX Technologies platform

Protocols: The Order Entry and Market Data specifications are available on the website

Industry Testing:
August 23, 2025 – First Industry Test
• September 6, 2025 – Second Industry Test
• September 27, 2025 – Third Industry Test (if needed)

Go-Live: September 29, 2025 – Official Go-Live Date

Yes. 24X will support the enriched NSCC FIX tags 336 (Trading Session ID) and 715 (Clearing Business Date) on all order and execution messages.

From 24X perspective, orders will not be accepted during the 8:00 PM to 9:00 PM ET pause period.

During this window, the system is in a controlled transition/reset state and order entry is not available.

There is no session transition at midnight, and trading continues uninterrupted during the extended session.

Sequence numbers do not reset at 00:00; resets occur during the 8:00 PM to 9:00 PM ET pause period.

24X plans to provide a meaningful testing window before production launch.

Test environments will be available in advance with the extended-session configuration so members can validate connectivity, session handling, order logic, market data behavior, and session transitions including the 8:00 PM to 9:00 PM ET pause.

Price controls will be enabled, with final details to be communicated.

Yes. Members will be able to configure and prepare well in advance of cutover.

Technical specifications, session identifiers, hours of operation, and required configuration changes will be published ahead of time so firms can test, certify, and complete internal approvals without last-minute changes.

During the extended session, 24X will disseminate market data consistent with direct MEMOIR proprietary feeds.

This includes top-of-book, depth-of-book, and last-sale products in line with other trading sessions.

Yes. The failover and backup model will remain in place during extended hours, consistent with current operations.

This is still to be determined, and the Exchange will communicate details in advance.

24X expects to be fully ready contemporaneously with SIP 23x5 availability and does not currently anticipate delay.

Assuming SIP is live and stable, the Exchange intends to launch contemporaneously and expects to be among the first exchanges operating in the extended session.

No separate dedicated overnight port is required.

Firms are expected to use existing production connectivity and session configurations, with session eligibility governed by trading hours and system configuration.

The information presented in these Frequently Asked Questions is provided for general information purposes only. While we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of this information. The content is only current as of March 1, 2026 and should not be relied upon as legal, financial, or professional advice. 24X National Exchange LLC assumes no responsibility for any consequences arising from the use of this information.