First Around-the-Clock US Stock Exchange Wins SEC Approval

A startup stock exchange aiming to handle trades around the clock won a US watchdog’s approval to operate a venue 23 hours daily, five days a week.

24X National Exchange, which counts Steve Cohen’s Point72 Ventures fund as a backer, secured permission to start offering sessions that span the US daytime and later add overnight trading, the Securities and Exchange Commission wrote in a notice posted Wednesday. The plan would preserve one-hour breaks starting at 7 p.m.

Proposals to allow nonstop stock trading have split Wall Street, with proponents saying investors want more ability to respond quickly to news ...