Opportunity
Federal Register #SR-NASDAQ-2026-031
Proposed Fee Increase for Nasdaq Testing Facility Connectivity and Cross-Margining Agreement Amendment
Buyer
Securities and Exchange Commission
Posted
April 20, 2026
Identifier
SR-NASDAQ-2026-031
NAICS
523210
This notice details proposed changes affecting financial market infrastructure services: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - The Nasdaq Stock Market LLC (primary OEM for connectivity services) - Fixed Income Clearing Corporation (FICC) and Chicago Mercantile Exchange (CME) (for cross-margining services) - Products and Services Requested: - Connectivity services to the Nasdaq Testing Facility in Carteret, New Jersey - Monthly hand-off fee increased from $1,000 to $1,100 per hand-off, per month - One-time installation fee increased from $1,000 to $1,100 per hand-off - Cross-margining services via an amended agreement between FICC and CME, extending cross-margining to eligible broker-dealer futures commission merchants - Unique or Notable Requirements: - Fee increases reflect a 10% adjustment, aligning with inflation as measured by the Data Processing and Related Services Producer Price Index (PPI) - Fee structure now matches that under Nasdaq Equity Rule 7 - The cross-margining agreement amendment is intended to broaden access for broker-dealer futures commission merchants - Place of Performance: - Nasdaq Testing Facility, Carteret, New Jersey
Description
The Nasdaq Stock Market LLC filed a proposed rule change to amend fees for its connectivity services, specifically increasing fees related to its Testing Facility in Carteret, New Jersey by 10%. The monthly hand-off fee and one-time installation fee per hand-off will increase from $1,000 to $1,100. This adjustment aligns fees under Options 7 with those under Equity Rule 7, reflecting inflation measured by the Data Processing and Related Services Producer Price Index. The fee increase supports the Exchange's investments in technology and services to remain competitive and meet customer demand for advanced connectivity solutions.