Nasdaq Ghosts 'Proximity-On-Demand'—The Trading Service That Never Was
Published Date: 8/20/2026
Notice
Summary
Nasdaq is updating its connectivity rules by removing some old fiber optic and wireless data services, deleting outdated tech fees, and canceling a never-launched Proximity-On-Demand offering. These changes affect traders and firms using Nasdaq’s data connections and take effect immediately, simplifying costs and services. No new fees are added, just a cleaner, more current setup.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Nasdaq ends fiber market-data links
Nasdaq will terminate certain fiber optic-delivered market data connectivity offerings effective September 30, 2026. These specific offerings are subscribed to by fewer than three customers, and existing customers were given 90 days' notice; the Exchange says the relevant feeds remain available from third-party vendors.
Removal of wireless multicast feeds and fees
Nasdaq removed multicast market data feeds delivered via wireless (microwave/millimeter wave) from its rules and deleted the associated installation, monthly, and volume-discount fee language; those wireless offerings were terminated effective August 31, 2025 and customers were given more than 90 days' notice before termination.
CTCI (legacy) station fees removed
Nasdaq will delete Equity 7, Section 115(c), removing fees and text for legacy Computer to Computer Interface (CTCI) Stations for MFUND; there have been no subscriptions to this service since November 22, 2021.
Proximity-On-Demand offering discontinued
Nasdaq confirmed it will discontinue the previously proposed Proximity-On-Demand (POD) managed colocation offering described in SR-NASDAQ-2024-030; the POD service was never implemented, no fees were filed for it, and the Exchange will not proceed with implementation.
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Key Dates
Department and Agencies
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Nasdaq PHLX is updating its connectivity rules by removing some old fiber optic and wireless market data services that no longer exist. They’re also canceling a new Proximity-On-Demand service they planned but never launched. These changes take effect immediately and mainly affect traders and firms using these services, potentially saving them money and simplifying options.