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 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.
Nasdaq Timeline Gives 24X Early Advantage
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.
“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.
“Connecting to 24X National Exchange enhances TNS' 24x5 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.
