Nasdaq Texas Rolls Out TNO Cross Connect for Colocation
Published Date: 3/20/2026
Notice
Summary
Nasdaq Texas is rolling out a new service called TNO Cross Connect that lets telecom companies connect easily inside its data center. This change affects anyone using Nasdaq Texas’s colocation services and aims to boost connectivity options. The new service is effective immediately, with fees to be announced soon.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Mandatory TNO Cross Connect Use
If you are a telecommunications network operator (TNO) that wants to connect to Nasdaq Texas data center clients, you will be required to connect through a new Nasdaq service called TNO Cross Connect. Nasdaq plans to offer TNO Cross Connect throughout its data center campus and expects implementation during the second quarter of 2026.
Introduction of Installation and Monthly Fees
Nasdaq will designate the cabling from a telco carrier cabinet to the Nasdaq distribution point as a paid connectivity service called TNO Cross Connect and will file a separate rule to set an installation fee and an ongoing monthly fee (both currently listed as "TBD"). The filing notes that other exchanges offer comparable services (for example, the New York Stock Exchange lists a monthly carrier connection fee of $1,150).
Service Scope Limited to Telco-to-Distribution Cabling
The TNO Cross Connect service covers only the cabling from a telco's carrier cabinet to the Nasdaq-managed distribution point and does not include the downstream cabling from the distribution point to a customer's cabinet. If you are a data center client, Nasdaq is not changing the customer-facing downstream connectivity as part of this proposal.
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