Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule General 8 Section 1 Related to Co-Location Services
Published Date: 2/2/2026
Notice
Summary
Nasdaq GEMX is shaking up how it charges for co-location services—where traders put their gear close to the exchange’s servers to get lightning-fast access. They’re switching from charging based on cabinet space to a new system based on power usage, which could change costs for traders starting now. This update affects anyone using GEMX’s data center in New Jersey and kicks in immediately with some new fees for power delivery.
Analyzed Economic Effects
5 provisions identified: 0 benefits, 0 costs, 5 mixed.
Shift to $550 per kVA Pricing
If you use Nasdaq GEMX co-location services at the Carteret, New Jersey data center (NY11/NY11-4), the Exchange is replacing cabinet density monthly fees with a uniform ongoing monthly fee of $550.00 per kilovolt-ampere (kVA) applied to each power circuit option under Rule General 8, Section 1(c).
Specific New Monthly Circuit Fees
The Exchange sets fixed monthly fees for specific power circuits by multiplying each circuit's kVA by $550 per kVA. Examples in the filing include: 2x20 amp 120V = $1,320.00/month, 2x30 amp 120V = $1,980.00/month, Phase 3 2x60 amp 208V = $11,888.45/month, and Phase 3 32 amp 415V = $12,650.53/month.
Immediate Effect and 60-Day SEC Review
The filing became effective pursuant to Section 19(b)(3)(A)(ii) and the SEC may summarily suspend the rule within 60 days of the filing if it deems suspension necessary; comments on the filing are invited through February 23, 2026. That means the new pricing is in effect now but could be temporarily suspended by the Commission within 60 days.
Cabinet Options and Half Cabinet Treatment
The Exchange will keep only two cabinet offerings in the rule text (a Cabinet and a Half Cabinet) with installation fees unchanged, but it will remove ongoing monthly cabinet fees under Rule General 8, Section 1(a). The filing notes Half Cabinets are not available to new subscribers (existing Half Cabinets remain).
Installation Fees Left Unchanged
The Exchange proposes to keep all cabinet and cabinet power installation fee amounts under Rule General 8, Sections 1(a) and 1(c) unchanged (for example, cited installation fees include $3,850 and $5,940 for certain cabinets).
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