Federal Register #SR-NASDAQ-2026-058

Nasdaq Rule Change: Direct Provision of Intrafirm Cabinet Fiber Connectivity Services and Revised Fees

This opportunity concerns a proposed rule change by The Nasdaq Stock Market LLC and Nasdaq Texas, LLC for intrafirm cabinet connectivity services in their data centers. - Government Buyer: - Securities and Exchange Commission (SEC) - The Nasdaq Stock Market LLC and Nasdaq Texas, LLC (service providers) - OEMs and Vendors: - Nasdaq is the sole provider; no other OEMs or vendors are referenced - Products/Services Requested: - Non-contiguous intrafirm cabinet fiber connectivity service - Cross connections between non-adjacent cabinets licensed to the same customer - Monthly fee structure: $385 for a single cross-connect, up to $720 for 24 cross-connects - No installation fees - Unique/Notable Requirements: - Service must be obtained directly from Nasdaq; third-party providers are prohibited - Nasdaq will directly administer, monitor, and maintain all connectivity - Changes aim to improve operational integrity, auditability, and oversight - Pricing is positioned as lower than comparable NYSE offerings - Period of Performance: - Ongoing monthly service, with implementation planned for the second quarter of 2026 (exact date to be announced) - No specific part numbers or quantities provided; service is defined by number of cross-connects needed

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change filed by The Nasdaq Stock Market LLC. The rule change aims to amend Rule General 8 to expressly list non-contiguous intrafirm cabinet connectivity as a subset of Fiber connectivity and to amend the fees applicable to that service. The proposal requires all data center customers seeking non-contiguous intrafirm cabinet connectivity to obtain that connectivity from Nasdaq, prohibiting third parties from providing such connectivity within Nasdaq's data center halls. The changes are intended to enhance operational integrity, auditability, and oversight of the connectivity infrastructure within Nasdaq's data centers.

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