Federal Register #SR-GEMX-2026-27

Nasdaq GEMX Rule Change: Direct Provision and New Fees for Intrafirm Cabinet Connectivity

This notice details a proposed rule change by Nasdaq GEMX, LLC regarding intrafirm cabinet connectivity within its data center halls: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - No external OEMs or vendors; all services provided directly by Nasdaq GEMX, LLC - Products/Services Requested: - Non-contiguous intrafirm cabinet fiber connectivity service - Fiber cross-connects linking non-adjacent cabinets licensed to the same customer - Managed, monitored, and maintained directly by Nasdaq GEMX, LLC - Monthly fees: $385 for a single cross-connect, up to $720 for 24 cross-connects (bundled pricing) - No installation fee - Unique/Notable Requirements: - Third-party provision of these connections is eliminated; only the Exchange may provide the service - The rule change is intended to enhance operational integrity, oversight, and auditability of data center connectivity - Fees are structured to be lower than comparable NYSE offerings

Description

This notice pertains to a proposed rule change filed by Nasdaq GEMX, LLC with the Securities and Exchange Commission (SEC) to amend Rule General 8. The amendment explicitly lists non-contiguous intrafirm cabinet connectivity as a subset of Fiber connectivity and revises the fees associated with this service. The proposal aims to enhance the integrity and operational control of the Exchange's data center connectivity by requiring that such connectivity be provided directly by the Exchange, eliminating third-party provision within the Exchange's data center halls. The fee structure is updated to include ongoing monthly fees with bundled pricing options, replacing the previous installation fee model.

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