# Federal Register #SR-GEMX-2026-33

Proposed Nasdaq GEMX fees for NY11-5 liquid-cooled cabinets and power services

**Buyer:** Securities and Exchange Commission
**Posted:** September 30, 2026
**Identifier:** SR-GEMX-2026-33
**NAICS:** 518210

The Securities and Exchange Commission is reviewing a proposed Nasdaq GEMX, LLC fee schedule for optional liquid-cooled co-location services in the NY11-5 data center.
- Government entities
  - Reviewing agency: Securities and Exchange Commission (SEC).
  - Proposing service provider and facility operator: Nasdaq GEMX, LLC.
- Requested offerings
  - Liquid-cooled cabinet installation: $5,490 for a Nasdaq-provided cabinet or $2,500 for a customer-provided cabinet; neither option has a recurring cabinet fee.
  - Liquid-cooled power installation and monthly power service across seven single- and three-phase configurations, from single-phase 240V/20A to three-phase 415V/60A.
  - Power customers select a one-, two-, or three-year commitment. Longer commitments have lower installation and monthly rates; detailed fees are listed below.
- Notable requirements and scope
  - The offering is optional and is intended for use in NY11-5, including a dedicated liquid-cooling enclosure for customer-provided cabinets.
  - Existing cabinet and power options remain available.
  - No quantities or part numbers are specified. Proposed fee implementation is planned for Q4 2026; the exact date is not stated.

### Description

Nasdaq GEMX, LLC proposes to amend Rule General 8 to establish fees for liquid-cooled cabinets offered as an optional premium co-location service in NY11-5. Customers may use a Nasdaq-provided cabinet or supply their own cabinet, with separate installation fees. The proposal also establishes power installation and ongoing monthly fees based on selected power options and commitment terms. The Exchange stated it proposes to implement the fees during the fourth quarter of 2026 and will notify customers of the implementation date by Trader Alert.

[View original listing](https://www.federalregister.gov/documents/2026/09/30/2026-19947/self-regulatory-organizations-nasdaq-gemx-llc-notice-of-filing-and-immediate-effectiveness-of)