Nasdaq Ditches GPS Clocks: Traders, Sync Your Watches Elsewhere!
Published Date: 11/21/2025
Notice
Summary
Nasdaq GEMX is dropping its dedicated GPS antenna service that helped customers keep super-accurate time for their trading gear in the Carteret data center. This change affects anyone using the Exchange’s co-location services and takes effect right away, with no extra fees or costs involved. So, if you rely on that GPS timing, it’s time to adjust your setup!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
GPS Timing Service Fees Stated
The filing states the Exchange's GPS timing service fees: the shared connection has a $900 installation fee and a $600 monthly fee; the dedicated connection had a $1,500 installation fee and a $600 monthly fee. About 49% of co-location customers subscribe to the timing service, and roughly 5% of subscribers purchase both the dedicated and shared options.
Dedicated GPS Antenna Removed
If your firm co-locates servers in GEMX's NY11 data center and uses a dedicated GPS antenna, you can no longer order that dedicated option as of September 30, 2025. Existing dedicated service will be terminated on April 1, 2026, and all dedicated antennas must be removed by that date; you may instead request the Exchange's shared GPS antenna service.
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Key Dates
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Previous: 2025-20525 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove the Exchange's Dedicated GPS Antenna Service Under General 8, Section 1(d)
Nasdaq PHLX is dropping its dedicated GPS antenna service that helped customers keep super-accurate time in its data center. This change affects traders and tech teams using the Exchange’s co-location services in Carteret, NJ, and it takes effect immediately with no extra fees or delays. Basically, if you relied on their GPS timing, you’ll need to find another way to sync up your clocks.
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