Federal Register #SR24X202609

SEC Notice: Proposed Rule Change for 24X National Exchange LLC Monthly Enterprise Fee for Depth of Book Market Data Feed

This opportunity concerns a proposed rule change by 24X National Exchange LLC, as published by the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC) - 24X National Exchange LLC is the filing entity - OEMs and Vendors: - 24X National Exchange LLC (proprietary market data provider) - Products/Services Requested: - 24X Depth Feed Monthly Enterprise License - $15,000 per month per recipient firm - Allows unlimited distribution to both professional and non-professional users - Contains all displayed orders, executions, cancellations, modifications, and administrative messages for securities traded on 24X - Unique or Notable Requirements: - Enterprise license provides an alternative to per-user fees - Fee is positioned as lower than comparable offerings from MIAX Pearl, Cboe BYX, and Cboe EDGA - Open to both members and non-members of the exchange - Rule change is effective immediately and open for public comment - No additional OEMs, vendors, or products are referenced beyond 24X National Exchange LLC and the 24X Depth Feed - Place of performance and contracting office: SEC headquarters, Washington, DC

Description

The 24X National Exchange LLC filed a proposed rule change to adopt a monthly enterprise license fee for its proprietary depth of book market data feed, known as the 24X Depth Feed. This fee would allow members and non-members to distribute the feed to an unlimited number of professional and non-professional users for a fixed monthly cost of $15,000 per recipient firm. The proposal aims to provide an alternative to per-user fees and aligns with similar fees charged by other equities exchanges for comparable data products. The rule change is effective immediately and open for public comment.

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