Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) ^[1] and Rule 19b-4 thereunder,^[2] notice is hereby given that, on September 8, 2026, 24X National Exchange LLC (“24X” or the “Exchange”) filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.

I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

The Exchange proposes to amend subparagraph (d) of Rule 8.1 (Disciplinary Jurisdiction) to clarify that the Exchange and FINRA are parties to a regulatory services agreement pursuant to which FINRA has agreed to perform certain functions on behalf of the Exchange, and that FINRA's Office of Disciplinary Affairs may review the Exchange's disciplinary matters, which means that some or all of the adjudication functions described in the Exchange's rules may be provided by FINRA pursuant to the terms of that regulatory services agreement. The proposed rule change is available on the Exchange's website at equities.24exchange.com/​regulation and at the principal office of the Exchange.

II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change

In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change

1. Purpose

Exchange Rule 8.1 (Disciplinary Jurisdiction) establishes the Exchange's jurisdiction over disciplinary matters that arise from the alleged violation of Exchange rules, federal securities laws, or related provisions by a Member ^[3] or person associated with a Member. Currently, subparagraph (d) of Rule 8.1 states that the Exchange may contract with another self-regulatory organization to perform some or all of the Exchange's disciplinary functions, and that the Exchange shall specify to what extent Exchange rules shall govern Exchange disciplinary actions and to what extent the rules of the other self-regulatory organization shall govern such actions. The Exchange proposes to amend Rule 8.1(d) to remove non-specific references to other self-regulatory organizations and to clarify that the Exchange and FINRA are parties to a regulatory services agreement pursuant to which FINRA has agreed to perform certain functions on behalf of the Exchange, and that FINRA's Office of Disciplinary Affairs may review the Exchange's disciplinary matters, which means that some or all of the adjudication functions described in the Exchange's rules may be provided by FINRA pursuant to the terms of that regulatory services agreement.

The proposed changes are intended to clarify the manner in which the Exchange contracts with other self-regulatory organizations by specifying that FINRA's Office of Disciplinary Affairs is the entity that may review the Exchange's disciplinary matters and provide the adjudication functions described in the Exchange's rules pursuant to the regulatory services agreement between the Exchange and FINRA.

2. Statutory Basis

The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act ^[4] in general, and with Section 6(b)(5) of the Act ^[5] in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and ( printed page 58934) coordination with persons engaged in facilitating transactions in securities, to remove impediments to, and perfect the mechanism of, a free and open market and a national market system and, in general, to protect investors and the public interest; and it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers.

In particular, the Exchange believes that the proposal to update Rule 8.1(d) will ensure that the Rule more clearly describes the manner in which FINRA will provide regulatory services to the Exchange with respect to disciplinary matters pursuant to a regulatory services agreement. The proposed amendment would reduce potential investor and market participant confusion and therefore remove impediments to and perfect the mechanism of a free and open market and a national market system by ensuring that investors and market participants can more easily navigate, understand, and comply with the Exchange's rules. The proposed amendment would not be inconsistent with the public interest and the protection of investors because investors would not be harmed by the proposed changes, but instead would benefit from the increased transparency and clarity that the proposed changes will provide.

B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not intended to address competitive issues but rather is concerned solely with updating Rule 8.1(d) to more clearly describe the manner in which the Exchange contracts with other self-regulatory organizations with respect to disciplinary matters.

C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others

No written comments were solicited or received with respect to the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action

Because the proposed rule change does not: (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) ^[6] of the Act and Rule 19b-4(f)(6) thereunder.^[7] A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),^[8] the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest.

At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) ^[9] of the Act to determine whether the proposed rule change should be approved or disapproved.

IV. Solicitation of Comments

Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods:

Electronic Comments

• Use the Commission's internet comment form (www.sec.gov/​rules/​sro.shtml); or
• Send an email torule-comments@sec.gov. Please include file number SR-24X-2026-24 on the subject line.

Paper Comments

• Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to file number SR-24X-2026-24. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's internet website ( www.sec.gov/​rules/​sro.shtml). Copies of the filing will be available for inspection and copying at the principal office of the Exchange. Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR-24X-2026-24 and should be submitted on or before October 8, 2026.