SEC Approves Exchange Rule Update for 24X Data Integration
Published Date: 11/28/2025
Notice
Summary
MEMX is updating its rules to show that it now uses data from the new 24X Exchange for handling, routing, and executing orders. This change started on October 14, 2025, and helps keep everything clear and up-to-date for traders and regulators. If you trade on MEMX, this means the exchange’s data sources are more transparent, but no new fees or delays are coming your way.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
MEMX Adds 24X Market Data Feed
If you trade on MEMX, the exchange updated Rule 13.4(a) to say it will use 24X Exchange market data from the Consolidated Quotation System (CQS) / UTP Quotation Data Feed (UQDF) for order handling, routing, execution, and compliance. This update reflects 24X operating as a registered national exchange beginning October 14, 2025.
No New Fees or Delays Promised
The filing states that adding 24X data to MEMX's Rule 13.4(a) provides transparency but does not introduce any new fees or delays for traders. If you trade on MEMX, the update is presented as not changing costs or processing times.
Rule Change Effective Immediately
The SEC waived the normal 30-day delay and designated MEMX's proposed amendment operative upon filing (filed November 19, 2025). This means market participants had the updated Rule 13.4(a) in effect immediately after filing so the disclosure of 24X data usage applied without the usual waiting period.
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