24X
National Exchange has secured a key partnership with Transaction Network
Services (TNS) that will provide market data connectivity for
its upcoming round-the-clock US stock trading platform, positioning the
startup exchange to beat Nasdaq’s competing service to market by more
than a year.
The
partnership announced today (Tuesday) gives TNS exclusive access to distribute
real-time market data from 24X when trading begins September 29. TNS will
deliver the data feeds through its global network to broker-dealers and their
retail clients, particularly targeting firms in Asia-Pacific markets that want
to trade US stocks during local business hours.
The deal
represents a significant infrastructure win for 24X as it races to launch
America’s first extended-hours national exchange before larger competitors
enter the market.
The timing
puts 24X well ahead of Nasdaq, which announced plans for 24-hour trading
but won’t launch until the second half of 2026 pending regulatory
approval. Nasdaq stated it is still working with “critical industry
infrastructure providers” to enable round-the-clock operations.
24X
received Securities and Exchange Commission (SEC ) approval in November 2024 to
operate 23 hours of weekday trading, making it the first national exchange
authorized for extended hours. The exchange will initially offer trading
from 4:00 a.m. to 8:00 p.m. Eastern Time before expanding to nearly continuous
operations from Sunday 8:00 p.m. through Friday 8:00 p.m.
Dmitri Galinov, 24X National Exchange CEO and Founder, Source: LinkedIn
“Providing
fast, dependable market data is fundamental to our mission of creating a
modern, accessible and global equities marketplace for trading in US
equities,” said Dmitri Galinov, 24X founder and CEO. “Partnering
with TNS allows 24X to deliver the high-quality connectivity our
participants expect, supporting trading strategies that rely on accurate and
timely information across standard and 23/5 trading sessions.”
Asia-Pacific Markets Drive
Extended-Hours Demand
The
partnership specifically targets growing demand from Asian investors who
currently face the inconvenience of trading US stocks during
overnight hours in their local time zones. TNS operates data centers across
Hong Kong, Tokyo and Singapore, providing direct connectivity to these key
markets.
Jeff Mezger, TNS vice president of product management.
“Connecting
to 24X National Exchange enhances TNS’ 24×5 trading capabilities, particularly
for firms in the Asia-Pacific (APAC) region – including Hong Kong, Tokyo, and
Singapore – that need to access US equities during their local trading
hours,” said Jeff Mezger, TNS vice president of product management.
TNS serves
more than 750 financial firms globally through its Infrastructure-as-a-Service
platform. The company emphasized that it will be the only provider
offering access to every overnight US equities trading venue once 24X
launches.
Related: 24 Exchange Introduces FX Swaps for Institutional Traders in Collaboration With Standard Chartered
Competition Intensifies
for Extended Trading
The 24X-TNS
partnership comes as competition heats up among exchanges and brokers to
capture international trading demand. Charles Schwab already offers
24-hour trading access to retail clients on select instruments, while the
New York Stock Exchange has proposed 22-hour weekday sessions starting in
late 2024.
Recent data
from Pepperstone showed that major stocks like Tesla generate 80-90% of
their gains outside regular trading hours, highlighting the
potential revenue opportunity from extended sessions.
Rakuten
Securities invested in 24X earlier this year to offer extended-hours US stock
trading to its Japanese customers. The investment positioned the
Asian broker to compete with larger rivals by providing access to US
markets during local business hours.
24X built
its trading infrastructure using MEMX Technologies and will operate under
full SEC oversight with standard investor protections. The exchange plans
to focus initially on tech-savvy retail investors throughout Asia-Pacific
before expanding to institutional clients.
24X
National Exchange has secured a key partnership with Transaction Network
Services (TNS) that will provide market data connectivity for
its upcoming round-the-clock US stock trading platform, positioning the
startup exchange to beat Nasdaq’s competing service to market by more
than a year.
The
partnership announced today (Tuesday) gives TNS exclusive access to distribute
real-time market data from 24X when trading begins September 29. TNS will
deliver the data feeds through its global network to broker-dealers and their
retail clients, particularly targeting firms in Asia-Pacific markets that want
to trade US stocks during local business hours.
The deal
represents a significant infrastructure win for 24X as it races to launch
America’s first extended-hours national exchange before larger competitors
enter the market.
The timing
puts 24X well ahead of Nasdaq, which announced plans for 24-hour trading
but won’t launch until the second half of 2026 pending regulatory
approval. Nasdaq stated it is still working with “critical industry
infrastructure providers” to enable round-the-clock operations.
24X
received Securities and Exchange Commission (SEC ) approval in November 2024 to
operate 23 hours of weekday trading, making it the first national exchange
authorized for extended hours. The exchange will initially offer trading
from 4:00 a.m. to 8:00 p.m. Eastern Time before expanding to nearly continuous
operations from Sunday 8:00 p.m. through Friday 8:00 p.m.
Dmitri Galinov, 24X National Exchange CEO and Founder, Source: LinkedIn
“Providing
fast, dependable market data is fundamental to our mission of creating a
modern, accessible and global equities marketplace for trading in US
equities,” said Dmitri Galinov, 24X founder and CEO. “Partnering
with TNS allows 24X to deliver the high-quality connectivity our
participants expect, supporting trading strategies that rely on accurate and
timely information across standard and 23/5 trading sessions.”
Asia-Pacific Markets Drive
Extended-Hours Demand
The
partnership specifically targets growing demand from Asian investors who
currently face the inconvenience of trading US stocks during
overnight hours in their local time zones. TNS operates data centers across
Hong Kong, Tokyo and Singapore, providing direct connectivity to these key
markets.
Jeff Mezger, TNS vice president of product management.
“Connecting
to 24X National Exchange enhances TNS’ 24×5 trading capabilities, particularly
for firms in the Asia-Pacific (APAC) region – including Hong Kong, Tokyo, and
Singapore – that need to access US equities during their local trading
hours,” said Jeff Mezger, TNS vice president of product management.
TNS serves
more than 750 financial firms globally through its Infrastructure-as-a-Service
platform. The company emphasized that it will be the only provider
offering access to every overnight US equities trading venue once 24X
launches.
Related: 24 Exchange Introduces FX Swaps for Institutional Traders in Collaboration With Standard Chartered
Competition Intensifies
for Extended Trading
The 24X-TNS
partnership comes as competition heats up among exchanges and brokers to
capture international trading demand. Charles Schwab already offers
24-hour trading access to retail clients on select instruments, while the
New York Stock Exchange has proposed 22-hour weekday sessions starting in
late 2024.
Recent data
from Pepperstone showed that major stocks like Tesla generate 80-90% of
their gains outside regular trading hours, highlighting the
potential revenue opportunity from extended sessions.
Rakuten
Securities invested in 24X earlier this year to offer extended-hours US stock
trading to its Japanese customers. The investment positioned the
Asian broker to compete with larger rivals by providing access to US
markets during local business hours.
24X built
its trading infrastructure using MEMX Technologies and will operate under
full SEC oversight with standard investor protections. The exchange plans
to focus initially on tech-savvy retail investors throughout Asia-Pacific
before expanding to institutional clients.
