# 2025-21639: Speed Costs More: Nasdaq Jacks Up Ultra Fiber Fees

2025-21639, Self-Regulatory Organizations; Nasdaq GEMX, 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/2025-21639
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-21639
- Title: Self-Regulatory Organizations; Nasdaq GEMX, 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 55184
- 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

Speed Costs More: Nasdaq Jacks Up Ultra Fiber Fees

## 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.

## Effects PRIA read

- 10Gb Ultra Monthly Fee Rises $2,000: cost, high. 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.
- Installation Fee Stays at $1,650: benefit, low. 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.
- One Fee Covers Access to Many Nasdaq Exchanges: benefit, medium. 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.
- Less-Expensive Connection Alternatives Remain: benefit, low. 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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## Sources
- [2025-21639 on federalregister.gov](https://www.federalregister.gov/documents/2025/12/01/2025-21639/self-regulatory-organizations-nasdaq-gemx-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2025-21639 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-12-01/pdf/2025-21639.pdf)

## Related
- [Previous: 2025-21638, Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-21638)
- [Next: 2025-21640, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2025-21640)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-21639 (as of 2026-06-08).