Nasdaq Tweaks Obscure Data-Center Connection Fees
Published Date: 7/22/2026
Notice
Summary
Nasdaq is updating its rules to clearly include a new type of fiber connection called non-contiguous intrafirm cabinet connectivity and is changing the fees for this service. This affects firms using Nasdaq’s data center connections, making it easier to understand and use these services. The changes took effect immediately on July 9, 2026, so firms should check their fees and connectivity options now.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
New Monthly Fees for Cross-Connects
Nasdaq replaced the prior one-time $550 installation option (with no monthly fee) by proposing no installation fee and ongoing monthly fees for non-contiguous intrafirm cabinet cross-connects: $385.00 for 1 cross-connect, $450.00 monthly for 6, $540.00 monthly for 12, $630.00 monthly for 18, and $720.00 monthly for 24 cross-connects. Nasdaq said the Exchange would begin charging these monthly fees to established customers upon implementation.
Nasdaq's Fees Are Lower Than NYSE Comparison
Nasdaq compared its proposed monthly fees to NYSE's published fees and stated its new monthly rates are lower at each comparable service level (for example, Nasdaq: $385/month for one cross-connect vs. NYSE: $600/month plus a $500 initial charge). Nasdaq also would not charge an installation fee while NYSE charges a $500 initial fee in the comparison.
Nasdaq Will Supply and Control Fiber
Nasdaq will furnish, inventory, monitor, audit, and maintain all non-contiguous intrafirm cabinet fiber within its data center halls and requires customers to obtain that connectivity from Nasdaq; third parties will no longer be permitted to provide that fiber within Nasdaq's data center halls. Nasdaq said this direct administration will begin in connection with its ongoing investments and standardization of data center connectivity.
Intrafirm Cabinet Connectivity Explicitly Listed
Nasdaq amended Rule General 8 to expressly list "Intrafirm Cabinet Connectivity" (non-contiguous, same-customer-licensed connectivity that traverses shared data center space) as a subset of Fiber connectivity under Section 1(b). This change is intended to make the availability and pricing for that service more transparent in Nasdaq's connectivity fee schedule.
Custom Installation Option Removed
Nasdaq removed the option to obtain non-contiguous intrafirm cabinet connectivity under the Custom Installation provision in Rule General 8, Section 1(d); customers would no longer be able to select intrafirm cabinet connectivity under Section 1(d).
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-14746 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule General 8 Regarding Intrafirm Cabinet Connectivity
Nasdaq PHLX is updating its rules to clearly include non-contiguous intrafirm cabinet connectivity as part of its fiber connectivity services and is changing the fees for this service. This affects firms using Nasdaq’s data center connections, making the rules clearer and the pricing more transparent. The changes took effect immediately on July 9, 2026, so firms should review their costs and connections now.
2026-14743 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified and Superseded by Amendment No. 1, To Amend Its Rules Related to Binary Options
Cboe Exchange is updating its rules to let traders buy and sell binary options on any index it already offers, with new morning and afternoon settlement times. They’re also changing position limits to apply per expiration date, making trading clearer and more flexible. These changes kick in quickly and could affect how much money traders can risk on these options.
Previous / Next Documents
Previous: 2026-14743 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified and Superseded by Amendment No. 1, To Amend Its Rules Related to Binary Options
Cboe Exchange is updating its rules to let traders buy and sell binary options on any index it already offers, with new morning and afternoon settlement times. They’re also changing position limits to apply per expiration date, making trading clearer and more flexible. These changes kick in quickly and could affect how much money traders can risk on these options.
Next: 2026-14745 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule General 8 Regarding Intrafirm Cabinet Connectivity
Nasdaq Texas is updating its rules to clearly include non-contiguous intrafirm cabinet connections as part of its fiber connectivity services. This change affects firms using these connections by adjusting the related fees, effective immediately. It’s a smooth move to keep tech connections clear and costs fair for members.