Nasdaq Tweaks Fees for Trading Cabinet Connections
Published Date: 7/22/2026
Notice
Summary
Nasdaq GEMX 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 GEMX’s network connections inside their trading setups. The new rule is effective immediately, so firms should check the updated fees and plan accordingly.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
New monthly fees for intrafirm fiber
If your firm uses non-contiguous intrafirm cabinet connectivity in GEMX data center halls, you must obtain that fiber from Nasdaq and pay ongoing monthly fees starting when the Exchange implements the change (on or about the second quarter of 2026). Fees are $385.00 per month for a single cross-connect, or bundled monthly prices of $450.00 (6), $540.00 (12), $630.00 (18), and $720.00 (24); there is no installation fee.
Exchange becomes sole fiber supplier
If you are a third-party provider of non-contiguous intrafirm cabinet fiber inside GEMX data center halls, you will no longer be permitted to supply that fiber; Nasdaq will furnish, inventory, monitor, audit, and maintain the fiber. Third parties may still offer installation services, but the fiber connectivity itself must be provided by the Exchange.
Contiguous cabinet cabling stays customer-directed
If your firm uses contiguous cabling between adjacent cabinets licensed to the same customer (and the cabling does not traverse shared data center space), that cabling remains customer-directed and the Exchange will not charge a recurring fee for it. The Exchange may still provide installation assistance or cabling on an ancillary basis under its Custom Installation provision.
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Nasdaq ISE is updating its rules to clearly include non-contiguous intrafirm cabinet connections 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 change took effect immediately on July 9, 2026, so firms should review their costs and connections now.
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