# 2025-21635: Nasdaq Stock Market Revises 10Gb Fiber Fees

2025-21635, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Price of a 10Gb Ultra Fiber Connection to the Exchange, is a Federal Register notice from Securities and Exchange Commission published 2025-12-01, effective 2026-01-02; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-21635
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-21635
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Price of a 10Gb Ultra Fiber Connection to the Exchange
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 55201
- Published: 2025-12-01
- Effective: 2026-01-02
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq Stock Market Revises 10Gb Fiber Fees

## Summary

Nasdaq is changing the price for its super-fast 10Gb Ultra Fiber connection to the exchange, starting January 2, 2026. This affects traders and firms who connect to Nasdaq’s data center using this fiber service, possibly changing their costs. The update is effective immediately but kicks in at the start of 2026, so everyone has time to prepare.

## Effects PRIA read

- 10Gb Ultra Monthly Fee Increases: cost, high. If you connect to Nasdaq using a 10Gb Ultra fiber link, the monthly fee increases from $16,500 to $18,500 starting January 2, 2026. The one-time installation fee stays $1,650.
- One Fee Covers Multiple Nasdaq Exchanges: benefit, medium. A single 10Gb Ultra fiber connection is charged one monthly fee regardless of how many Nasdaq-affiliated exchanges it accesses. That one fee applies per 10Gb Ultra connection.
- Nasdaq Still Priced Below NYSE Alternatives: benefit, high. Even after the increase to $18,500/month, Nasdaq’s 10Gb Ultra fee is $3,500 per month less than NYSE’s $22,000 monthly charge for a comparable connection; Nasdaq’s installation fee ($1,650) is also lower than NYSE’s $15,000.
- Cheaper Connectivity Alternatives Exist: benefit, low. If you do not want to buy a 10Gb Ultra connection at the new price, you can still connect via cheaper options like copper, lower-throughput fiber, non-ultra fiber, or third-party vendors.
- Latency-Sensitive Users Most Affected: cost, medium. The Exchange says the price increase will particularly impact customers that are latency sensitive and need larger-capacity connections, because those users consume more network resources and typically choose 10Gb Ultra links.

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## Sources
- [2025-21635 on federalregister.gov](https://www.federalregister.gov/documents/2025/12/01/2025-21635/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2025-21635 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-12-01/pdf/2025-21635.pdf)

## Related
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- [Next: 2025-21636, Self-Regulatory Organizations; Nasdaq BX, Inc; Notice of Filing and Immediate E…](https://policyrisk.com/federal-register/2025-21636)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-21635 (as of 2026-06-08).