PHLX Joins the Co-Location Cash Grab for Speedy Trades
Published Date: 1/28/2025
Notice
Summary
Nasdaq PHLX is rolling out new fees for its expanded co-location services, which let traders place their computers closer to the exchange for faster trades. This change affects traders and firms using these services and takes effect immediately, meaning they’ll need to budget for these new costs right away. The SEC is open to feedback but has already given the green light to these fees.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
New Fees for Co-Location Services
Nasdaq PHLX is establishing new fees for its expanded co-location services that let traders and firms place computers closer to the exchange. If you are a trader or a firm that uses these co-location services, you will face new costs under the Exchange's fee schedule.
Fees Take Effect Immediately, Budget Now
The Exchange designated the proposed fee changes for immediate effectiveness when it filed on January 8, 2025, so traders and firms should budget for these new costs right away. The SEC is soliciting public comments on the filing with submissions requested on or before February 18, 2025.
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Previous / Next Documents
Previous: 2025-01771, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Its Expanded Co-Location Services
Nasdaq is rolling out new fees for its expanded co-location services, which let traders place their computers super close to Nasdaq’s servers for faster trades. This change affects anyone using these services and kicks in right away, so get ready to pay a bit more for that speedy edge. The SEC is open to feedback for the next 60 days, but the fees are already in effect!
Next: 2025-01773, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Permit TPHs To Opt Out of Systematic Adjustment of AIM Auction Price if Outside of NBBO Upon Receipt
Cboe EDGX Exchange just made a cool update letting Trading Permit Holders (TPHs) skip automatic price tweaks during AIM auctions if the price is outside the best market range when received. This change kicks in right away and gives traders more control over their auction prices, potentially speeding up trades without messing with fairness. If you’re a TPH, this means more flexibility and possibly better deals!