Federal Register #SR-24X-2026-18

SEC Notice: Proposed Rule Change to Amend 24X US Holdings LLC Agreement and Issue Additional Voting Units

This notice concerns a proposed rule change by 24X National Exchange LLC, published by the Securities and Exchange Commission (SEC). - The proposal seeks to amend the Limited Liability Agreement of 24X US Holdings LLC, the parent company of the Exchange. - Key changes include: - Authorizing the issuance of 840,000 additional Voting Common Units to Shinhan Securities Co., Ltd. upon conversion of a convertible promissory note - Increasing the total authorized Voting Common Units from 11,280,914 to 11,365,282 - Updating the ownership interests of 24X Bermuda Holdings LLC, Rakuten Securities Holdings, Inc., and Shinhan Securities Co., Ltd. - The transaction is intended to provide additional funding for the regulation and operation of the Exchange. - OEMs and vendors mentioned: - 24X National Exchange LLC - 24X US Holdings LLC - 24X Bermuda Holdings LLC - Rakuten Securities Holdings, Inc. - Shinhan Securities Co., Ltd. - No products or services are being procured; this is a regulatory filing related to corporate governance and ownership structure.

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by 24X National Exchange LLC. The rule change involves amendments to the Limited Liability Agreement of 24X US Holdings LLC in connection with a transaction involving the issuance of additional Voting Common Units upon conversion of a convertible promissory note. The amendments include increasing the authorized number of Voting Common Units and updating ownership interests among members. The transaction aims to provide additional funding for the regulation and operation of the Exchange.

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