Shayanne Gal is an Insider.
The Wall Street Journal reported that Steve Cohen is backing a startup that wants to give investors access to the stock market 24/7.
24 Exchange made headlines in October after The WSJ reported that it was in the process of applying for a national stock-exchange license.
According to The Journal, Point72 is leading a funding round for 24 Exchange.
Pete Casella, a partner at a hedge fund, told the Journal that retail traders who want to trade after work hours and on weekends may be interested in stock market trading. 24 Exchange wants to tap this market.
The trading platform wants to make the stock market look like the cript market, which never closes.
Many of the biggest moves happen over the weekend. Traditional stock trading in the US takes place from 9:30 am to 4:00 pm on Mondays through Fridays.
The vision for the exchange was created by a 20-year electronic trading veteran who founded a foreign exchange trading venue.
His startup, which is based in Bermuda, offers foreign exchange and cryptocurrencies.
Business Insider has an original article.
