24X Exchange raises sub-dollar transaction fees to 0.28% effective Nov. 2

On October 29, 2026, 24X National Exchange LLC filed a proposed rule change (file number SR-24X-2026-29) with the Securities and Exchange Commission under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4. The exchange proposes to implement the amendment on November 2, 2026.

The amendment raises the fee for executions that remove liquidity from the 24X Book for securities priced below $1.00 per share from 0.09% to 0.28% of the total dollar value of the transaction. The increased fee applies to both non-retail orders (fee codes "2" and "61") and retail orders (fee codes "102," "160," and "161") and is assessed on all Members, regardless of their overall trading volume.

The exchange states that the change is intended to incentivize Members to submit more liquidity-providing orders, thereby supporting price discovery and market depth. It cites Section 6(b) of the Act and the objectives of Sections 6(b)(4) and 6(b)(5) as the statutory basis, emphasizing equitable allocation of reasonable fees and the promotion of a free and open market.

The Commission is seeking comments through December 1, 2026. Submissions may be made via the Commission's internet comment form or by email (including the file number on the subject line), or in paper form sent in triplicate to the SEC Secretary. Copies of the filing are available for inspection at the exchange's principal office.

The exchange notes that the proposed 0.28% fee is comparable to or lower than the fees charged by Cboe EDGX, MIAX Pearl, and MEMX for similar executions, and it views the structure as competitively priced.