SEC denies 24X’s requested SIP exemption, for now
Start-up exchange cannot begin its overnight market session before the equity data plans’ hours are scheduled to be extended on December 6. But that’s only half of it.
The Securities and Exchange Commission has denied 24X National Exchange’s requested exemption from the requirement that the securities information processors (SIPs) be fully functional in order for 24X to operate in the overnight trading session. The start-up exchange will have to wait until December 6, when the SIPs are scheduled to extend hours, to launch its 24X Market Session.
But it doesn’t end there.
If the SIP is unable to meet the December date, the SEC has granted 24X temporary
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