Nasdaq Boots Cozy Cabinet Program for Traders' Gear
Published Date: 6/9/2025
Notice
Summary
Nasdaq is saying goodbye to its Cabinet Proximity Option program, which let customers reserve nearby cabinet space for their equipment by paying a monthly fee. This change affects anyone using or planning to use this program, and it takes effect right away—no more monthly fees or reservations for this space. Nasdaq is streamlining its rules, so get ready for a simpler setup with no extra cabinet charges.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 1 costs, 2 mixed.
Nasdaq Ends Cabinet Reservation Program
If you used Nasdaq's Cabinet Proximity Option, Nasdaq retired the Program and eliminated cabinet reservations and monthly reservation fees. The Program ended on May 2, 2025, and customers were not billed for reservations beyond April 30, 2025.
Deadline to Cancel or Convert Reservations
Customers with existing reservations were given the option to cancel or convert reservations to a power order in NY11-4 and were provided a May 2, 2025 deadline to notify Nasdaq. Nasdaq states customers were not billed for reservations beyond April 30, 2025 and that reservations will be cancelled if the customer does not choose an option by the deadline.
Only Immediate Orders; Exchange Chooses Placement
Going forward, Nasdaq will accept only immediate cabinet orders and will unilaterally determine where to place a customer's cabinet rather than allowing advance reservations. Customers can still order cabinet space immediately and pay cabinet fees, but Nasdaq will decide placement to manage capacity.
NY11-4 Expansion and Equalization Timeline
Nasdaq expanded its NY11 data center with a new wing (NY11-4) in September 2024 to offer additional power and power distribution options and more consistent power options. Nasdaq estimates its Equalization Project to equalize connectivity across the campus will require 18–24 months to complete, commencing as of the launch of NY11-4.
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