24X National Exchange Slashes Pricing to Boost Liquidity in Extended-Hours Trading
Event summary
- 24X National Exchange launched a new retail pricing program on March 2, 2026, offering a $0.0038 rebate for equities trading over $1.00 with no tiers.
- The exchange also introduced a $0.0034 rebate for adding liquidity across all tapes on stocks above $1.00, while the take rate remains at $0.00295/share.
- 24X aims to drive greater retail limit order flow and attract liquidity providers ahead of its planned 23/5 trading launch in the second half of 2026.
The big picture
24X National Exchange is positioning itself as a disruptor in the equities trading space by offering extended-hours trading and competitive pricing. This move aligns with broader industry trends toward democratizing access to markets for retail investors, potentially challenging established exchanges like Nasdaq and NYSE. The success of this strategy will hinge on attracting sufficient liquidity providers and maintaining regulatory compliance as it scales its operations.
What we're watching
- Liquidity Dynamics
- How the aggressive rebate structure will affect liquidity provider participation and retail order flow.
- Competitive Positioning
- Whether 24X can sustain its market share against traditional exchanges as it expands to 23/5 trading.
- Regulatory Compliance
- The pace at which the SEC will monitor and potentially regulate extended-hours trading practices.
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