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      24X National Exchange Sets Aggressive New Pricing To Attract Liquidity Providers

      Published: just now

      24X National Exchange

      24X National Exchange has launched a retail trade pricing programme for its members, introducing a tiered-free rebate structure designed to draw liquidity providers and retail order flow to the exchange.

      The pricing programme, now in effect following a recent filing with the U.S. Securities and Exchange Commission (SEC), offers a $0.0038 (38-mils) rebate with no tiers for equities trading over $1.00. The exchange is also offering a $0.0034 (34-mils) rebate for adding liquidity across all tapes on stocks trading above $1.00, with a take rate of $0.00295 per share (29.5 mils), also without tiers.

       

      Dmitri Galinov

      Dmitri Galinov, Chief Executive Officer and Founder, 24X National Exchange
       

      Dmitri Galinov, Chief Executive Officer and Founder, 24X National Exchange, commented:

      "We're grateful for our 24X members who are supporting the first U.S. national exchange purpose-built for extended-hours trading. We designed our retail program to deliver great value grounded in accessibility, simplicity, and affordability. The new pricing range is intended to drive greater retail limit order flow while attracting liquidity providers to the exchange. 24X's straightforward rebate with no tiers eliminates the complexity that has historically disadvantaged smaller participants and ensures retail order flow is valued appropriately. Combined with our inverted pricing structure, market participants can focus on execution quality rather than navigating complicated fee schedules. As we prepare for our 23/5 trading launch later this year, transparent and competitive pricing will level the playing field for retail investors trading via 24X member broker-dealers."

       

      Trading on 24X National Exchange commenced in October 2024, offering extended hours trading of U.S. equities from 4:00 a.m. to 8:00 p.m. ET on weekdays. The exchange expects to launch 23/5 trading of U.S. equities in the second half of this year.


      24X National Exchange is a subsidiary of 24X Bermuda Holdings LLC, which is a privately held company. The company is a national securities exchange approved by the SEC to operate 23 hours each weekday. Its second operating subsidiary, 24X Bermuda Limited, facilitates currency exposure exchange. 24X National Exchange enables retail and institutional customers to trade U.S. equities via approved member broker-dealers.


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      Bhargav is a Business Analyst at LF, working at the intersection of business strategy, marketing, PR, communications, and operations. I enjoy transforming ideas into meaningful initiatives, building better processes, strengthening brand presence, and creating solutions that drive measurable impact.

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