Federal Register #SR-NasdaqTX-2026-028

SEC Notice: Exchange Rule Changes for Connectivity and Time Synchronization Services

This opportunity involves proposed rule changes by major U.S. securities exchanges impacting connectivity and time synchronization services for market participants. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - Nasdaq Texas, LLC (exchange operator) - Cboe BZX Exchange, Inc. (exchange operator) - Products/Services Requested: - Cboe BZX Exchange is introducing a new Clock Service for precise time synchronization: - 1 Gbps physical port for clock synchronization - Optional redundant 1 Gbps port for backup - High-Accuracy Timing IP Core (HATI) one-time licensing fee per connection - Monthly subscription fees for both primary and redundant connections - Nasdaq Texas, LLC is removing obsolete connectivity services and market data feeds, as well as discontinuing the Cooling (Door) Fans product and Power Consulting Service - Unique or Notable Requirements: - The Clock Service is designed for high-precision time synchronization between market participants and the exchange - Redundant connection option available for enhanced reliability - One-time licensing fee required for each physical connection - Removal of unused connectivity and data feed services to streamline offerings and update technical terminology - No specific hardware OEMs are named for the Clock Service; the exchanges themselves are the service providers.

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by Nasdaq Texas, LLC. The rule change pertains to amendments to Rule General 8 concerning connectivity. The proposal includes removing certain connectivity services and market data feeds that are no longer in use by customers, as well as updating terminology for technical specifications to align with industry standards. The filing has been made effective immediately and aims to enhance clarity and transparency of the Exchange's connectivity fee schedule.

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