Federal Register #SR-NASDAQ-2026-042

SEC Review of Nasdaq's Extension for Dedicated GPS Antenna Service Retirement

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change from The Nasdaq Stock Market LLC regarding its co-location services: - The rule change extends the removal date for Nasdaq's dedicated GPS antenna service from April 30, 2026, to the end of May 2026 - This service provides time synchronization for co-located servers in Nasdaq's NY11 data center in Carteret, NJ - The dedicated GPS antenna service is being phased out in favor of a shared GPS antenna service - No new installations of the dedicated service are allowed after September 30, 2025 - Approximately 49% of co-location customers currently subscribe to the dedicated service - Customers will continue to pay the $600 monthly fee for the dedicated service until it is retired - No installation fees will be charged during the extension period - Customers may terminate their subscription at any time before the announced retirement date - Customers will be notified at least 10 business days before the new retirement date - The SEC is soliciting public comments on this proposed rule change

OEMs and Vendors - The Nasdaq Stock Market LLC (service provider and operator of the data center)

Products/Services Requested - Dedicated GPS Antenna Service (monthly subscription, $600/month, phased out) - Shared GPS Antenna Service (alternative, $600/month, $900 installation fee)

Notable Requirements - Transition from dedicated to shared GPS antenna service - No new orders for dedicated service after September 30, 2025 - Service is voluntary and can be terminated by customers at any time before the final retirement date

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to extend the designated date for the removal of the exchange's dedicated GPS antenna service under General 8, Section 1(d). The proposal extends the termination date from April 30, 2026, to the end of May 2026 due to unanticipated delays in migrating customers to a shared GPS antenna service. The Exchange will notify customers at least 10 business days in advance of the new retirement date, and customers will continue to be charged the monthly fee until that date. The service is voluntary, and customers may terminate at any time before the announced retirement date.

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