Federal Register #SR-GEMX-2026-26

SEC Notice: Nasdaq GEMX TNO Cross-Connect Service Fee Establishment

This opportunity concerns the SEC's notice of a proposed rule change by Nasdaq GEMX, LLC to establish new fees for its TNO Cross-Connect Service within the Nasdaq data center campus. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor: - Nasdaq GEMX, LLC (Original Equipment Manufacturer and service provider) - Products/Services Requested: - TNO Cross-Connect Service (telecommunications network operator connectivity) - One-time installation fee: $550 per telco provider-to-customer cross-connection - Ongoing monthly fee: $385 per cross-connection - Service includes cabling, infrastructure, maintenance, and operational oversight within the Nasdaq data center - Unique/Notable Requirements: - Fees apply uniformly to all telecommunications network operators serving Nasdaq colocation customers - Installation fee is only charged for new orders; monthly fee applies to both new and existing connections - Pricing is positioned as competitive and lower than similar offerings from other exchanges (e.g., NYSE) - No specific part numbers or physical products; procurement is for a standardized connectivity service - Additional Context: - The rule change is effective for both new and existing connections, with implementation planned for the third quarter of the referenced year

Description

The Securities and Exchange Commission published a notice regarding Nasdaq GEMX, LLC's proposed rule change to amend Rule General 8 Connectivity to establish fees for its TNO Cross-Connect Service. The proposal includes an installation fee of $550 and an ongoing monthly fee of $385 for the service, which involves Exchange-managed telecommunications infrastructure within the data center. The fees are intended to cover the costs of implementation, administration, and maintenance, and apply uniformly to all telecommunications network operators providing services to Nasdaq colocation customers. The proposed rule change became effective on or about July 1, 2026.

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