Federal Register #SR-NasdaqTX-2026-031

SEC Announces Proposed Fees for Nasdaq TNO Cross-Connect Service

The Securities and Exchange Commission (SEC) is announcing a proposed rule change regarding connectivity services for Nasdaq Texas, LLC and Nasdaq GEMX, LLC. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - Nasdaq Texas, LLC - Nasdaq GEMX, LLC - Products/Services Requested: - TNO Cross-Connect Service (telecommunications network operator connectivity within Nasdaq data center campus) - $550 installation fee per cross-connection - $385 monthly fee per cross-connection - No part numbers or specific purchase quantities specified - Unique or Notable Requirements: - Service provides standardized, Exchange-managed cabling from a TNO's carrier cabinet to a Nasdaq-managed distribution point - Fees apply uniformly to all telecommunications network operators (TNOs) - Service is required for TNOs seeking to provide connectivity to Nasdaq data center customers - Fees are set lower than comparable NYSE offerings - No physical products are being procured; only managed connectivity service is being solicited - Implementation planned for the third quarter of 2026

Description

The Securities and Exchange Commission (SEC) has filed a proposed rule change by Nasdaq Texas, LLC to amend Rule General 8 Connectivity to establish fees for its TNO Cross-Connect Service. This service involves telecommunications network operator connectivity, specifically cabling from a TNO's carrier cabinet to a Nasdaq-managed distribution point within the Exchange's data center campus. The proposed fees include a $550 installation fee and a $385 ongoing monthly fee. The rule change is filed for immediate effectiveness and aims to provide a standardized, Exchange-managed connectivity service with equitable and reasonable fees.

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