PHLX Cleans Up Its Connectivity Rulebook
Published Date: 6/12/2026
Notice
Summary
Nasdaq PHLX is updating its connectivity rules by removing old services that no one uses anymore and refreshing some tech terms to keep things clear. This change affects traders and firms connected to the Exchange and takes effect immediately, with no new fees involved. It’s a smart cleanup to keep the system fresh and easy to navigate!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Exchange Drops Obsolete Connectivity Services
Nasdaq PHLX is removing a set of connectivity and market-data services and their associated fees from Rule General 8 because no customers have subscribed to them. The removals include 100MB, 1G, and 10G connectivity to Metro NY/NJ, Toronto, and Chicago destinations; a list of market data feeds (for example, OpenBook Realtime, NYSE Alerts/Trades, Arca Trades/BBO, OPRA, CME, CBOE, BZX/BYX/EDGA/EDGX Depth, TSX/TSXV Level 1 and Level 2 feeds), and additional products/services such as “Cooling (Door) Fans” and “Power Consulting Service.” The Exchange states no customers subscribed to the listed connectivity services since about September 2025 and no customers subscribed to the listed market data feeds and services since about August 2023.
Technical Specs Updated to Industry Voltage Term
Nasdaq PHLX is updating its connectivity fee schedule to change references from "110 volt" to the industry-standard term "110/120 volt." This is a non-substantive terminology update intended to align the rule text with prevailing North American electrical terminology.
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