LTSE Introduces New Connectivity Fees for Traders
Published Date: 5/27/2025
Notice
Summary
The Long-Term Stock Exchange (LTSE) is adding new connectivity fees for companies that connect to its trading systems, including primary, backup, and test sites. These fees started on May 12, 2025, and affect anyone using LTSE’s network connections. If you trade or run tech on LTSE, expect some new charges for plugging in!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
New Physical Cross‑Connect Fees
If your firm connects physically to LTSE, the Exchange now charges $5,500 per 10Gb physical interface per month for connections to the Primary facility and $2,750 per 10Gb physical interface per month for connections to the Disaster Recovery or Test Environment. These fees apply to both Members and non‑Members and have been effective since May 12, 2025.
Logical Connectivity (Port) Charges
LTSE now charges $450 per logical connectivity session (port) per month for order entry, trade reporting, market data sessions, etc. The Exchange will waive fees for the first three sessions per month for each market participant. The rule has been effective since May 12, 2025.
Monthly Assessment Rules and Cost Recovery
LTSE will assess connectivity fees monthly based on active connectivity products at the close of business on the first day of each month; if a product is canceled before assessment, no fee is charged. LTSE projects monthly revenues of about $475,000 from these fees versus aggregate monthly connectivity costs of about $595,840 (annualized $7,150,076), meaning the fees are intended to cover only a portion of costs and are projected to result in a loss based on current usage.
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