Federal Register #SR-MRX-2026-29

SEC Review of Nasdaq MRX TNO Cross-Connect Service Fee Proposal

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change from Nasdaq MRX, LLC to establish new fees for its TNO Cross-Connect telecommunications service within the Nasdaq data center campus. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor: - Nasdaq MRX, LLC (primary OEM and service provider) - Products/Services Requested: - TNO Cross-Connect Service - $550 installation fee per telco provider-to-customer cross-connection - $385 monthly fee per cross-connection - Service includes cabling from a carrier cabinet to a Nasdaq-managed distribution point, providing standardized telco connectivity for network operators and colocation customers - Unique/Notable Requirements: - Fees are set to be lower than comparable NYSE connectivity fees - The service is designed to provide equitable, reasonable, and non-discriminatory access for all telecommunications network operators - No specific part numbers or product SKUs are listed; the procurement is for a standardized connectivity service - Additional Context: - The rule change is part of the SEC's regulatory process for self-regulatory organizations - Implementation is expected in the third quarter of 2026

Description

The Securities and Exchange Commission published a notice regarding Nasdaq MRX, LLC's proposed rule change to amend Rule General 8 to establish fees for its TNO Cross-Connect service. This service involves telecommunications network operator connectivity within Nasdaq's data center. The proposed fees include a $550 installation fee and a $385 monthly fee. The rule change is filed for immediate effectiveness and aims to provide equitable and reasonable fees for the service.

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