24X (“24X” or “exchange”) has submitted a proposed rule change to the U.S. Securities and Exchange Commission (“SEC”) aiming to expand its warrant performance incentive plan (the “Plan”) for exchange participants. 24X is the first national securities exchange to be approved by the SEC to offer 23-hour trading on weekdays in the U.S. stock market.

The adjustment is aimed at expanding the scale of equity that can be provided under the program, reducing the entry costs for certain brokerage traders who become participants in 24X, extending the program until June 2028, and simplifying the conditions for warrant attribution.

24X CEO and founder Dmitri Galinov stated: "The vision of 24X National Exchange is based on the concept of providing round-the-clock access to the US stock market. This expansion of our warrant program aims to further realize this vision by offering meaningful equity in the growing exchange to liquidity providers. As a new exchange, we hope to do our part in bringing higher liquidity and trading volume to extended trading hours. By increasing the available equity, reducing entry costs, and linking ownership to each participant's own performance, we are making it easier and more rewarding for more brokerage traders to help us build a deep and resilient market at 24X."

According to the original plan, this scheme will continue until December 31, 2027, with 24X providing a stake equivalent to 10% of the non-voting equity of its parent company's 24X US Holdings LLC on a fully diluted basis.

The new equity portion, based on a fully diluted basis, is equivalent to an additional 22.25% of US Holdings equity. It can be obtained starting from 2027 and will continue to be available during two additional quarters of assessment in 2028, thereby extending the program until June 30, 2028. For member companies that are only seeking additional equity, the entry cost will be reduced to $250,000, which is lower than the previous $500,000.

In addition, whether it is existing equity or newly added equity, the attribution will no longer require a certain percentage of market share in the exchange. The attribution will depend solely on the trading volume of the members—existing equity based on total trading volume, and newly added equity based on trading volume on the exchange—rather than on the exchange's market share. The purpose is to provide participants with a liquidity trading venue that is directly linked to 24X equity and competitive in nature.

The proposed rule change ( SR-24X-2026-26 ) has been submitted to take effect immediately and will be implemented from October 1, 2026. All changes are not retroactive, and it is planned that other provisions will remain unchanged. Relevant documents can be found at https :// equities.24exchange.com / regulation. At the time of this proposed change announcement, 24X is preparing for the official launch of 23-hour trading on weekdays for U.S. stocks, with the exchange expected to begin on December 6.

About 24X

24X (“24 Exchange”) is a private company that has two main operating subsidiaries: 24X Bermuda Limited, which is responsible for enabling seamless and low-cost trading of currencies and metals; and 24X National Exchange LLC, the first national stock exchange to be approved by SEC to operate 23 hours a day on weekdays. 24X's mission is to promote all-day, low-cost trading across an expanding range of asset classes. 24X reduces the cost of asset exchanges in global markets while providing creative and unique workflows for each type of asset. For more information, visit https://24exchange.com. 24X National Exchange enables global retail and institutional customers to trade U.S. stocks through approved member brokers. For more information, visit https://equities.24exchange.com home.

Media contact:Eric Andrus, KARV