Nasdaq Stock Market Boosts Telecom Links in Data Centers
Published Date: 3/19/2026
Notice
Summary
Nasdaq is rolling out a new service called TNO Cross Connect that lets telecom companies connect directly inside its data centers. This change helps speed up and improve network connections for traders and tech users on Nasdaq’s campus. The service is effective immediately, with fees to be announced soon, so telecom providers and Nasdaq users should get ready for faster, smoother connections.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
TNOs Required To Use Cross Connect
If you are a telecommunications network operator (TNO), you will be required to connect to Nasdaq data center clients using the new TNO Cross Connect. The Cross Connect covers the cabling from the telco carrier cabinet to the Nasdaq-provided distribution point across Nasdaq's NY11, NY11-4, and NY11-5 campus and must be used for any TNO seeking to serve Nasdaq colocation customers.
Nasdaq Will Charge Fees (TBD)
Nasdaq will designate the TNO Cross Connect as a connectivity service and will submit a separate filing to establish installation and ongoing monthly fees (currently listed as "TBD"). The filing notes a comparable NYSE service with a $1,150 monthly fee as context.
Standardized, Nasdaq-Managed Cabling
Nasdaq will manage and standardize the cabling path (from telco cabinet to Nasdaq distribution point) across its data center campus to create a uniformly administered and auditable connectivity pathway. This standardization is intended to enhance operational integrity, transparency, oversight, and maintenance of connectivity for data center customers.
Equal Access for All TNOs
The TNO Cross Connect will be available to all telecommunications network operators on an equal, non-discriminatory basis. Any TNO that wishes to provide services to Nasdaq data center customers must use the Exchange-managed Cross Connect.
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