Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-100254; File No. 10-242] I. Introduction On February 6, 2024, 24X National Exchange LLC (“24X”) filed with the Securities and Exchange Commission (“Commission”) a Form 1 application under the Securities Exchange Act of 1934 (“Act”), seeking registration as a national securities exchange under Section 6 of the Act. [ 1 ] Notice of the application was published for comment in the Federal Register on March 4, 2024. [ 2 ] The Commission received five comments on the Form 1  [ 3 ] and a letter responding to the comments from 24X. [ 4 ] Two commenters expressed support the 24X Form 1, [ 5 ] one commenter suggested a “cautious approach to expanding trading hours” because their “research indicates that increasing trading hours has negative consequences for retail investment performance”  [ 6 ] and one commenter stated that it “believe[s] there are several aspects of the Application that require careful review and analysis by the Commission, or additional information and clarification from 24X, before the Application is permitted to move forward.”  [ 7 ] Section 19(a)(1) of the Act  [ 8 ] requires the Commission, within ninety days of the date of publication of notice of an application for registration as a national securities exchange, or such longer period as to which the applicant consents, to, by order, grant such registration&thins…
Citation: 89 FR 48466
