Nasdaq Texas Heats Up Trading with Liquid-Cooled Server Spaces
Published Date: 3/19/2026
Notice
Summary
Nasdaq Texas is upgrading its co-location services by adding new cabinet and power options in its expanded data center, including a cool new liquid-cooled cabinet. This change affects traders and tech teams who rely on fast, reliable connections to the exchange. The new services are effective immediately, with fees to be announced soon, making it easier and cooler to trade!
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
New Liquid‑Cooled Cabinets in NY11-5
Nasdaq Texas will offer a new Liquid‑Cooled Cabinet option only in its NY11-5 data center expansion. Liquid cooling uses liquid (not air) to move heat and lets customers deploy more computing power within the same cabinet footprint, which may help firms that need denser server deployments.
Higher‑Power Circuit Options Added
The Exchange will make two new cabinet power circuit options available only for Liquid‑Cooled Cabinets in NY11-5: Phase 3 40 amp 415 volt and Phase 3 60 amp 415 volt. The filing notes these higher-power options support power levels above the approximately 5–23 kW range available with other circuits and into the roughly 29–43 kW range.
Fees for New Services Not Yet Determined
Nasdaq Texas will submit a separate fee filing to establish installation and ongoing monthly fees for Liquid‑Cooled Cabinets and the new power circuits; the exchange shows these fees as "TBD" in its schedule. Customers should expect that fees will be set by a future filing.
Option to Use Customer‑Provided Cabinets
For the Liquid‑Cooled Cabinet service in NY11-5, customers may either use Nasdaq‑provided cabinets or supply their own cabinets. By contrast, traditional air‑cooled cabinets remain Nasdaq‑provided only.
Advance Orders Allowed; Fees Deferred Until Access
Customers may place orders for Liquid‑Cooled Cabinets in NY11-5 before the space opens, and those orders will not be fee‑liable until the Exchange provides access for immediate use, anticipated on or about April 3, 2026. This allows firms to reserve capacity before being charged.
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