💰24X National Exchange Proposes New Fee Structure for Members
Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt the Initial Fees and Rebates Applicable to Members of the Exchange
Summary
The SEC has published notice regarding proposed fees and rebates by 24X National Exchange LLC, effective upon its launch as a national securities exchange. The proposal includes a competitive fee schedule aimed at attracting liquidity, with specific charges for removing liquidity and rebates for adding liquidity to the exchange. The structure is designed to encourage fair competition and price discovery among market participants.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change establishes initial fees and rebates for members of the 24X National Exchange LLC, which will directly impact transaction costs for businesses engaging in securities trading. The competitive fee structure aims to attract order flow to the new exchange, potentially influencing the trading strategies and costs for market participants.