Cantor Fitzgerald has joined the 24X National Exchange as a member firm, marking its latest expansion into extended-hours U.S. equity trading. 24X received approval from the SEC in 2024 to offer near-continuous trading (23/5) and began operating in October with 16/5 sessions. The exchange positions itself as a next-generation electronic venue built for around-the-clock price discovery.
Why Cantor Bet on 24X: From Blue Ocean to Overnight Liquidity
This membership is part of a broader trend for Cantor. Since early 2024, the firm has onboarded platforms including Blue Ocean, Bruce Markets, and Moon ATS, aiming to diversify execution pathways. Pascal Bandelier, Co-CEO and Global Head of Equities at Cantor, said the move “strengthens our electronic trading capabilities and further supports our clients, positioning us to provide best execution and liquidity.” The firm frames extended-hours access not as a niche experiment but as a core component of modern best-execution strategies in an always-on market environment.
24X's Play: Building Credibility Through Institutional Membership
For 24X, landing Cantor adds significant institutional weight. Founder and CEO Dmitri Galinov stated that Cantor's global reach and client relationships align with the exchange's mission to deliver a “modern, efficient and convenient trading platform for sophisticated market participants.” The exchange is currently seeking an SEC waiver to launch overnight trading before real-time settlement data systems (SIPs) are ready. It has also applied to list tokenized versions of the Russell 1000 stocks and ETFs, a move that could further blur the line between traditional equities and digital assets.
The broader push for extended trading hours reflects growing demand from global investors who need to align U.S. market access with their own time zones. As more broker-dealers explore 23/5 models, exchanges like 24X are moving from the margins into mainstream consideration. Cantor's membership signals that extended-hours trading is no longer a fringe feature, but a necessary pillar for firms competing on execution quality.