Nasdaq MRX Unveils Direct Telecom Cross Connect Service
Published Date: 3/19/2026
Notice
Summary
Nasdaq MRX is rolling out a new service called TNO Cross Connect that lets telecom companies connect directly inside its data center. This upgrade helps traders and tech teams get faster, smoother connections. The new service is effective immediately, with fees to be announced soon, so anyone using Nasdaq MRX’s data center should get ready for quicker, better telecom links.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
All Telcos Must Use Nasdaq Cross-Connect
If you are a telecommunications network operator (TNO) connecting to Nasdaq MRX's data center campus, you will be required to interface through the new TNO Cross Connect for any connection anywhere in the campus. Nasdaq expects to implement the requirement during the second quarter of 2026.
Nasdaq Will Begin Charging Fees (TBD)
Nasdaq will designate the cross-connect cabling as a connectivity service and will file separately to establish installation and ongoing monthly fees (marked “TBD” in the filing). The filing notes that the New York Stock Exchange offers a comparable carrier connection fee of $1,150 per month as a reference point.
Standardized Path Improves Oversight
Nasdaq says the TNO Cross Connect will create a uniformly administered, auditable pathway for all TNOs inside its data center campus, which it expects will enhance integrity, transparency, monitoring, maintenance, and auditing of connectivity. The Exchange states the offering will be available to all TNOs on an equal basis.
Service Scope Limited to Specific Cabling
The TNO Cross Connect service covers only the cabling that runs from the telco carrier cabinet to the Nasdaq-provided distribution point and does not include the downstream connection from the distribution point to the customer cabinet. Nasdaq is explicitly limiting the service to that section of the telco-to-customer connectivity path.
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