Federal Register #S7-2026-06

SEC Grants Temporary Exemptive Relief for 24X National Exchange LLC Overnight Trading

This notice details the SEC's temporary conditional exemptive relief for 24X National Exchange LLC to operate overnight trading sessions if industry-wide extended hours data amendments are not implemented on time. - Government Buyer: - U.S. Securities and Exchange Commission (SEC) - Division of Trading and Markets - OEMs and Vendors: - 24X National Exchange LLC (primary exchange operator) - Third-party market data vendors (potential providers of consolidated data feeds) - Products/Services Requested: - No procurement of products or services; this is a regulatory exemption - 24X is required to provide a proprietary real-time data feed, free of charge, during the exemption period - Unique or Notable Requirements: - Relief is conditional: only effective if Equity Data Plans do not implement Extended Hours Amendments by the required deadline - 24X must ensure market transparency by offering free real-time data - The exemption is temporary and expires upon implementation of the amendments or a set expiration date - Focus on investor protection, market transparency, and competition during overnight trading

Description

The Securities and Exchange Commission (SEC) grants a temporary conditional exemption to 24X National Exchange LLC from certain regulatory requirements to permit overnight trading under specified conditions. This relief allows 24X to operate its NMS stock trading system during the 24X Market Session from 9:00 p.m. to 4:00 a.m. ET, Sunday through Thursday, when Equity Data Plans are not disseminating consolidated SIP data. The exemption is effective from January 24, 2027, until the earlier of the implementation of the Extended Hours Amendments or July 2, 2027, and includes conditions such as providing a proprietary real-time data feed free of charge to ensure market transparency during the exemption period.

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