Federal Register #SR-Phlx-2026-40

Nasdaq Proposes Fees for TNO Cross-Connect Service in Data Centers

This opportunity involves the Securities and Exchange Commission (SEC) reviewing a proposed rule change from Nasdaq PHLX LLC and Nasdaq Texas, LLC regarding telecommunications connectivity services in their data centers. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Nasdaq PHLX LLC - Nasdaq Texas, LLC - Products/Services Requested: - TNO Cross-Connect Service: Provides cabling and connectivity from a telecommunications network operator's (TNO) carrier cabinet to a Nasdaq-managed distribution point within the exchange's data center campus - $550 installation fee per cross-connect - $385 monthly recurring fee per cross-connect - Unique or Notable Requirements: - Service is mandatory for all TNOs seeking to provide connectivity to Nasdaq colocation customers - Fees apply uniformly to all TNOs - Fees are lower than those charged by the New York Stock Exchange (NYSE) for similar services - No specific hardware products or OEM part numbers are involved, as this is a managed service offering

Description

Nasdaq PHLX LLC proposes to amend Rule General 8 (Connectivity) to establish fees for its TNO Cross-Connect service, a telecommunications network operator connectivity service within the Exchange's data center campus. The service includes cabling from a TNO's carrier cabinet to a Nasdaq-managed distribution point, serving as a standardized access point for TNO connectivity. The proposed fees include a $550 installation fee and a $385 ongoing monthly fee. The Exchange believes these fees are reasonable and equitable, reflecting the resources required to provide and maintain the service, and are lower than comparable fees charged by another national securities exchange.

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