24X National Exchange eliminates information circular rule for UTP products

On November 3, 2026, 24X National Exchange LLC filed with the SEC a proposed rule change under Section 19(b)(1) of the Securities Exchange Act and Rule 19b-4. The filing, identified as Release No. 34-106870 and File No. SR-24X-2026-30, was published in the Federal Register on November 10, 2026 (Vol. 91, No. 218, pp. 73327-73329) and is effective immediately.

The amendment would (1) add express cross-references in Rule 14.1(a) to Rules 3.7 and 3.21, (2) delete Rule 14.1(b)(1), which obliges the Exchange to distribute an information circular to members before trading any UTP Exchange Traded Product, (3) revise Rule 14.1(b)(2)(B) to require that the written description be provided in a form approved by the listing exchange or prepared by the open-ended management company, and (4) renumber the existing sub-rules 14.1(b)(2)-(5) as 14.1(b)(1)-(4).

The Exchange argues that the circular requirement is redundant because the primary listing exchange already issues an information circular containing the same disclosures. It further states that members can rely on that circular and on the standing obligations in Rules 3.7 (recommendations) and 3.21 (customer disclosures), which the added cross-references are intended to highlight.

Designated as non-controversial under Section 19(b)(3)(A)(iii), the proposal mirrors a similar filing by Cboe BZX Exchange, Inc. The Exchange has posted the full text on its website at https://equities.24exchange.com/regulation and at its principal office, and the Commission is soliciting comments from interested parties.