Federal Register #SR-GEMX-2026-21

SEC Review: Nasdaq GEMX and MRX Data Center Intrafirm Connectivity Service and Fees

This opportunity concerns a proposed rule change by the Securities and Exchange Commission (SEC) regarding Nasdaq GEMX, LLC and Nasdaq MRX, LLC data center connectivity services. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs/Vendors: - Nasdaq GEMX, LLC - Nasdaq MRX, LLC - Products/Services Requested: - Non-contiguous intrafirm cabinet connectivity service within Nasdaq data centers - Cross connections between non-adjacent cabinets licensed to the same customer - Monthly recurring fees for bundles of cross-connects: - $385 for 1 cross-connect - $450 for 6 cross-connects - $540 for 12 cross-connects - $630 for 18 cross-connects - $720 for 24 cross-connects - No installation fees - Unique/Notable Requirements: - Only Nasdaq will administer, supply, inventory, and audit the fiber for these connections - Third-party providers are prohibited from offering this connectivity - The service is positioned as more cost-effective than comparable NYSE offerings - The rule change aims to enhance oversight, standardization, and integrity of the Exchange's data center infrastructure

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Nasdaq GEMX, LLC. The rule change pertains to amendments to Rule General 8 concerning intrafirm cabinet connectivity. The proposal includes expressly listing non-contiguous intrafirm cabinet connectivity as a subset of Fiber connectivity and amending the fees applicable to such service. The change aims to enhance the integrity and oversight of the Exchange's data center connectivity infrastructure by centralizing administration and standardizing fees.

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