24 Exchanges, a startup trading platform, is about to change the status quo in the stock market circle. The company has submitted a draft to the US Securities and Exchange Commission (SEC) that will see it operating a 24-hour trade.

This will also include weekends and holidays, which will alter the trading hours and methods for investors for over a decade.

24 Exchange is about to complete its application which includes an application for a national stock exchange license. However, it’s not clear whether the SEC will approve the application.

The over-the-counter (OTC) forex and crypto trading platform, says the 24X National Exchange will allow U.S. trades with a minimum increment of one one-thousandth of a share.

24 Exchange is regulated by 24 Exchange Bermuda Limited, with full regulation from Bermuda Monetary Authority.

24 Exchange Platform To Deliver Stability And Cost Efficiencies

Founder and Chief Executive Officer of 24 Exchange, Dmitri Galinoz, stated that the company has almost completed the application process and will wait for SEC’s approval. He added that the new platform if approved by the SEC, will enable retail traders to benefit from the cost efficiencies, strength, and stability of the 24 Exchange platform.

He added that the new exchange is designed to provide increased access to U.S. equities for retail traders all over the world.

Galioz noted that the new opportunity will also help to provide new job opportunities for brokers to meet the need for 24-hour staffing.

24 Exchange To Lower Traders’ Risks

Head of Equities at 24 Exchange, Paul Adcock, also commented on the development. “Traders are most at-risk when the market is closed in their geographic location,” he noted.

But with the introduction of 24/7 trading for traders across the globe, 24 Exchange will be eliminating such risk, he reiterated.

The SEC has the sole jurisdiction to determine the timing of the approval. As a result, the new exchange will not commence until the agency has given its approval.

If approved, 24 Exchange hopes to kick-start by providing crypto derivatives trading services with non-deliverable forwards (NDFs) in ETH and BTC.