Speed Costs More: Nasdaq Jacks Up Ultra Fiber Fees
Published Date: 12/1/2025
Notice
Summary
Nasdaq GEMX 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 directly to the exchange’s data center, possibly changing their costs. The update is effective immediately upon filing but kicks in at the start of 2026, so everyone has time to prepare.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
10Gb Ultra Monthly Fee Rises $2,000
If your firm pays for a 10Gb Ultra fiber connection to Nasdaq GEMX, the monthly fee goes from $16,500 to $18,500 starting January 2, 2026. This change applies to market participants and traders who connect directly to the Exchange's data center.
One Fee Covers Access to Many Nasdaq Exchanges
A single 10Gb Ultra fiber connection lets a market participant access multiple Nasdaq-affiliated exchanges and only one monthly fee will apply per 10Gb Ultra connection regardless of how many affiliated exchanges are used. That single-fee rule continues under the new pricing.
Installation Fee Stays at $1,650
Nasdaq GEMX will keep the installation fee for a 10Gb Ultra fiber connection at $1,650. That installation charge does not change when the new monthly price becomes operative on January 2, 2026.
Less-Expensive Connection Alternatives Remain
Firms that do not need 10Gb Ultra capacity can continue to use lower-throughput options (e.g., copper, lower-throughput fiber) or connect via third-party vendors. The Exchange notes these alternatives remain available for participants with modest capacity or lower latency needs.
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Key Dates
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Previous: 2025-21638 — Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Price of a 10Gb Ultra Fiber Connection to the Exchange
Nasdaq MRX 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 MRX’s data center and could impact their costs for speedy market access. The new pricing kicks in right after the New Year, so get ready to adjust your budgets!
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