A 45-day public review period has begun for the application by 24X National Exchange LLC to the US Securities and Exchange Commission for a licence to create a new national exchange.

24X is a US subsidiary of 24 Exchange Bermuda Ltd.

The company said it had submitted its final Form 1 application on February 2.

It said that the SEC had accepted it, and posted it to the agency’s website, thereby beginning the review period.

If approved, the new exchange would offer US equities trading around the clock with minimum increments of 1/1,000th of a share – and would be the first fully electronic exchange in the US that allows trading of securities with unlisted trading privileges on a 24/7/365 basis.