Federal Register #SR-TXSE-2026-014

SEC Notice: Texas Stock Exchange LLC Proposed Rule Change to Adopt Connectivity Fees

This opportunity concerns the Securities and Exchange Commission (SEC) notice of a proposed rule change by Texas Stock Exchange LLC (TXSE) to establish monthly connectivity fees for access to its trading systems. - Government Buyer: - Securities and Exchange Commission (SEC) - Texas Stock Exchange LLC (TXSE) as the regulated entity proposing the rule - OEMs and Vendors: - No specific OEMs or hardware vendors are named; the services are provided directly by TXSE - Products/Services Requested: - Physical connectivity services: - 10 Gigabit ultra-low latency fiber cross-connections at TXSE's primary facility ($6,000/month per interface) - 10 Gigabit ultra-low latency fiber cross-connections at TXSE's disaster recovery facility ($3,000/month per interface) - Logical connectivity services: - Order entry ports ($450/month per port) - Drop copy ports ($450/month per port) - Multicast market data dissemination ports ($450/month per port) - Notable Requirements: - Fees apply to both Members and non-Members - Fees are pro-rated for partial months - The proposal references comparable fee structures from other exchanges (LTSE, MEMX LLC, 24X National Exchange, Cboe EDGX Exchange, Inc.) - The rule change is intended to encourage efficient use of connectivity and support regulatory compliance (Regulation SCI) - No specific products, part numbers, or hardware procurement is involved; the opportunity is for exchange connectivity services only

Description

The Texas Stock Exchange LLC has filed a proposed rule change with the Securities and Exchange Commission to adopt connectivity fees. The proposal includes monthly fees for physical connectivity at primary and disaster recovery facilities, as well as fees for logical connectivity sessions used for order entry, drop copy, and proprietary market data dissemination. The fees are designed to be reasonable, equitable, and consistent with fees charged by other exchanges, aiming to encourage efficient use of connectivity services and support regulatory compliance. The filing is effective immediately and open for public comment until August 17, 2026.

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