24X Exchange Lets Sponsored Firms Join Reward Program
Published Date: 5/18/2026
Notice
Summary
24X National Exchange just made its Warrant Performance Incentive Program more inclusive by letting Sponsored Participants team up with their Sponsoring Members as joint participants. This means more players can now share the rewards and benefits starting immediately, boosting chances to earn incentives. If you’re involved with 24X, this change could mean more money and teamwork opportunities right away!
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Analyzed Economic Effects
4 provisions identified: 1 benefits, 2 costs, 1 mixed.
Additional $500,000 Fee Per Sponsored Participant
If a Sponsoring Member already paid the $500,000 Prepayment Fee for its own participation but wants to add a Sponsored Participant, the Sponsoring Member must tender an additional $500,000 Prepayment Fee for each Sponsored Participant it adds. If the Sponsoring Member has not already paid, the Sponsoring Member must cause the Prepayment Fee to be tendered by the first day of the quarter in which the Sponsored Participant will participate.
Sponsored Participants Can Join Program
Sponsored Participants may now join the 24X Warrant Performance Incentive Program together with a Sponsoring Member as a Joint Participant. To be eligible the Sponsored Participant must qualify as an accredited investor, execute required agreements, have identifiable trading volume on 24X, and the Prepayment Fee of $500,000 must be tendered by the Sponsoring Member by the first day of the calendar quarter to participate. The Program uses Measurement Periods (e.g., Oct 14–Dec 31, 2025 and quarterly periods in 2026–2027) and requires meeting Target Volume and 24X minimum market share thresholds (Target Volume = 5% of average daily trading volume; 24X Minimum Overall Market Share = 0.50% in Year 2 and 1.00% in Year 3).
Only Sponsored Participant Volume Counts
When a Sponsoring Member and a Sponsored Participant participate together, the Program requires that volume thresholds be met exclusively by the Sponsored Participant and the warrant is issued only to the Sponsored Participant. The Sponsoring Member cannot combine its own volume with the Sponsored Participant's volume to meet the Program thresholds.
Change Effective Immediately; 60-Day Review
The proposed rule change was filed April 30, 2026 and became effective upon filing. The Securities and Exchange Commission may summarily suspend the change at any time within 60 days of the filing, and comments on the filing must be submitted on or before June 8, 2026.
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