📈New Warrant Incentive Program by 24X Exchange to Boost Trading
Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing of a Proposed Rule Change To Implement a Warrant Performance Incentive Program
Summary
The Securities and Exchange Commission announces a proposed rule change for 24X National Exchange LLC, implementing a Warrant Performance Incentive Program to encourage member participation through the purchase of Non-Voting Common Units based on trading volume metrics. The program aims to enhance market liquidity and trading volumes within the exchange.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
This regulation outlines a new incentive program allowing Exchange members to gain equity-like benefits through warrants linked to trading volumes, requiring a significant prepayment fee. The implications are substantial as they may motivate increased trading activity and liquidity for businesses operating within the Exchange ecosystem, impacting revenue models and market behavior.