2025-19181Notice

NYSE Arca Simplifies Deposits for Mahwah Data Center Users

Published Date: 10/1/2025

Notice

Summary

NYSE Arca is changing the rules for how much money traders need to put down when reserving power in their special data center spot. This update affects anyone using the Mahwah Data Center and makes the deposit process clearer and more straightforward. The new rule kicks in right away, so users should get ready to adjust their payments and plans.

Analyzed Economic Effects

3 provisions identified: 2 benefits, 1 costs, 0 mixed.

Deposit Jump for Large Power Orders

If you order more than 32 kW of power during an Ordering Window at the Mahwah Data Center, the required deposit increases from two months' worth of monthly recurring costs to six months' worth. The Exchange gives the example that four firms paid $17 million in deposits under the old rule; similar orders would require $51 million under the new rule.

Small Users Keep Same Deposit and Priority

If you order 32 kW of power or less during an Ordering Window at the Mahwah Data Center, your deposit requirement stays at two months' worth of monthly recurring costs. Users ordering 32 kW or less continue to be allocated up to 32 kW in Step 2 before larger orders are considered.

Deposit Use and Refund Rules Remain

Deposits will continue to be applied to the User's first and subsequent months' invoices after power is delivered until the deposit is used up. If you withdraw your order during the Ordering Window, your deposit will be returned.

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Key Dates

Effective Date
Published Date
9/25/2025
10/1/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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