General 8 Connectivity
The connectivity products and services that this Rule describes are shared among all of the Nasdaq, Inc.
exchanges (The Nasdaq Stock Market, LLC, Nasdaq BX, Inc., Nasdaq PHLX, LLC, Nasdaq ISE, LLC, Nasdaq, MRX,
LLC, and Nasdaq GEMX, LLC). Fees for these products and services are also the same among all of the Nasdaq,
Inc. exchanges. As such, a firm need only purchase the products and services listed below from any Nasdaq,
Inc. exchange once to connect to any and all of the Nasdaq, Inc. exchanges to which it is otherwise entitled
to connect, or to connect to third party market data feeds or services. For example, if a firm purchases
connectivity to one Nasdaq, Inc. exchange and then subsequently qualifies to connect to a second Nasdaq,
Inc. exchange, then the firm may utilize its existing services for connecting to the first exchange to also
connect to the second exchange, without incurring an additional charge.
Adopted October 29, 2018 (SR-MRX-2018-33); amended December 19, 2018 (SR-MRX-2018-40), operative January 21,
2019.
The following charges are
assessed for co-location services:1
(a) Cabinets
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Cabinet with Power
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Description
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NY11 Installation Fee
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NY11-4 Installation Fee†
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Ongoing Monthly Fee
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Half Cabinet*
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N/A
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Cabinet
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$3,850 |
$5,490 |
N/A
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* Not available to new
subscribers. † Includes larger cabinet (32" W x 48" D x 91" H).
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Shared
Cabinet Space
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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4U Block of
Cabinet Space including up to 500W of power*
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$165 per
hour
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$660
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* No more than 2 4U Blocks.
Access restricted to Exchange personnel.
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Specialty
Cabinet Charge
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Description
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Ongoing
Monthly Fee
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Additional
Charge per Cabinet for cabinet > 24"W for each 6"W increment greater than 24"W - 2x
the ongoing cabinet fee if the cabinet is >=48"W
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$550 per 6"
or 2x the Ongoing Cabinet fee
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Multi-Firm
Cabinet Charge
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Description
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Ongoing
Monthly Fee
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Additional
Charge per Cabinet per firm for each cabinet that supports a firm other than the firm
contracted to receive the cabinet by Nasdaq Technology Services
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$550
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(b)
Connectivity
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External
Telco/Inter-Cabinet Connectivity
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Category 6
Cable patch
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$330
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$385*
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DS-3
Connection
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$550
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$385*
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Fiber
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$550
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$385*
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POTS
Line
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$0
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$55
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One-Time
Telco Connectivity Expedite Fee
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$1,540
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$0
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Inter-Cabinet
Telco connection outside Nasdaq space
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$1,100
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100MB
Connectivity - Metro NY/NJ Area Destination
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$1,281.50**
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$1,815**
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1G
Connectivity - Metro NY/NJ Area Destination
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$2,365**
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$2,365**
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10G
Connectivity - Metro NY/NJ Area Destination
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$5,500**
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$5,500**
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100MB
Connectivity - Toronto Area Destination
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$5,335**
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$4,510**
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1G
Connectivity - Toronto Area Destination
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$8,470**
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$10,835**
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10G
Connectivity - Toronto Area Destination
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$16,620**
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$31,240**
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100MB
Connectivity - Chicago Area Destination
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$3,850**
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$8,085**
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1G
Connectivity - Chicago Area Destination
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$5,390**
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$14,080**
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10G
Connectivity - Chicago Area Destination
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$11,715**
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$29,590**
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* Requesting party only. Not
applicable to inter-cabinet connections among the same customer.
** Includes fiber telco cross
connect within the Exchange's data center.
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Connectivity
to the Exchange
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Fiber
Connection to the Exchange (10Gb)
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$1,100
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$11,000
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Fiber
Connection to the Exchange (10Gb Ultra)
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$1,650
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$18,500
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Fiber
Connection to the Exchange (40Gb)
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$1,650
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$22,000
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Fiber
Connection to the Exchange (1Gb Ultra)
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$1,650
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$2,750
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Fiber
Connection to the Exchange (1Gb)
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$1,100
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$2,750
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1Gb Copper
Connection to the Exchange
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$1,100
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$2,750
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Connectivity
to Third Party Services
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Third Party
Services Fiber Connection (10Gb Ultra)
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$1,650*
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$5,500*
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Third Party
Services Fiber Connection (1Gb Ultra)
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$1,650*
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$2,200*
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Third Party
Services Fiber Connection (1Gb Ultra or 10Gb Ultra for UTP only)
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$110*
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$110*
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* Waived for two connections per
client to UTP SIP feeds only (UQDF and UTDF).
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Market
Data Connectivity*
The following Market
Data feeds are delivered to the Nasdaq Data Center via a fiber optic
network:
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Nasdaq
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$1,100
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$0
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SIAC
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$1,100
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CTS/CQS
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$1,553.20
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OpenBook
Realtime
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$2,750
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OpenBook
Ultra
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$2,750
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NYSE
Alerts
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$220
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NYSE
Trades
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$110
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Arca
Trades
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$110
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ArcaBook
Multicast
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$1,650
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Arca
BBO
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$137.50
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AMEX-Ultra/Trades/Alerts/LRP
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$110
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OPRA
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$6,600
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CME
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$1,100
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$3,850
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Access Fee
per location device/user
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$69
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CBOE
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$1,100
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BZX
Depth
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$4,400
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BYX
Depth
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$1,650
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EDGA
Depth
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$2,750
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EDGX
Depth
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$2,750
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TSX/TSXV
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$1,100
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TSX and TSXV
Level 1 Feed
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$330
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TSX and TSXV
Level 2 Feed
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$1,100
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TSX Quantum
Level 1 Feed
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$110
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TSX Quantum
Level 2 Feed
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$330
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* Pricing is for connectivity
only and is similar to connectivity fees imposed by other vendors. The fees are generally based on the
amount of bandwidth needed to accommodate a particular feed and the Exchange is not the exclusive method
to get market data connectivity. Market data fees are charged independently by the Exchange and other
exchanges.
The following multicast
Market Data feeds are delivered to the Nasdaq Data Center via a wireless network (microwave or
millimeter wave):
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Description
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Installation
Fee
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Recurring
Monthly Fee*
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NYSE Equities
(Arca Integrated)
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$5,500
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$11,000
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NYSE Equities
(NYSE Integrated)
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$5,500
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$11,000
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BATS
Multicast PITCH (BZX and BYX)
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$2,750
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$8,250
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Direct EDGE
Depth of Book (EDGA, EDGX)
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$2,750
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$8,250
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CME Multicast
Total
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$5,500
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$25,850
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CME Equities
Futures Data Only
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$11,000
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CME Fixed
Income Futures Data Only
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$11,000
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CME Metals
Futures Data Only
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$3,850
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* Subscribers with three to five
microwave or millimeter wave wireless subscriptions under General 8, Section 1(b) (and/or any other
provision of these Rules that provides for such subscriptions, as may exist, from time to time)receive a
5% discount on all such subscriptions; subscribers with six to ten microwave or millimeter wave wireless
subscriptions under the Rules receive a 10% discount on all such subscriptions; subscribers with eleven
to fourteen microwave or millimeter wave wireless subscriptions under the Rules receive a 15% discount
on all such subscriptions; and subscribers with fifteen or more microwave or millimeter wave wireless
subscriptions under the Rules receive a 20% discount on all such subscriptions.
(c) Power
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Cabinet
Power**
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Description
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NY11 Installation Fee
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NY11-4 Installation Fee
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NY11 Ongoing Monthly Fee ($550 per kVA)
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NY11-4 Ongoing Monthly Fee ($550 per kVA)
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2x20 amp 110
volt
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$2,200
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N/A
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$1,320.00
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N/A
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2x30 amp 110
volt
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$2,200
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N/A
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$1,980.00
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N/A
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2x20 amp 208
volt
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$2,200
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N/A
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$2,288.00
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N/A
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2x30 amp 208
volt
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$2,200
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N/A
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$3,432.00
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N/A
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Phase 3 2x 20
amp 208 volt
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$3,300
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N/A
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$6,864.00
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N/A
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Phase 3 2x 30
amp 208 volt
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$3,300
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N/A
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$3,963.82
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N/A
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2x60 amp 208
volt
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$3,300
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N/A
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$5,944.22
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N/A
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Phase 3 2x 40
amp 208 volt
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$3,300
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N/A
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$7,925.63
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N/A
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Phase 3 2x 50
amp 208 volt
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$3,300
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N/A
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$9,907.04
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N/A
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Phase 3 2x 60
amp 208 volt
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$3,300
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N/A
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$11,888.45
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N/A
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2x30 amp 48
volt DC
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$3,300
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N/A
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$792.00
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N/A
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Phase 1 20 amp 240 volt*
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$3,600
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$2,640.00
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Phase 1 32 amp 240 volt*
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$3,600
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$4,224.00
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Phase 1 40 amp 240 volt*
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$3,600
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$5,280.00
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Phase 3 20 amp 415 volt*
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$4,560
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$7,906.58
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Phase 3 32 amp 415 volt*
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$4,560
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$12,650.53
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*NY11-4 only. One of these options must be selected for Cabinets in NY11-4. **Note: Circuit cap is based on the available power at 80% of the breakered capacity of all circuit pairs within a cabinet (where a primary/redundant circuit pair is considered a single circuit).
(d) Additional
Charges/Services
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Additional
Items
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Cooling
(Door) Fans
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$1,650
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$0
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Perforated
Floor Tiles
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$275
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$0
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Cabinet
Extension
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$550
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$0
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Super High
Density Cabinet Kit
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$4,950
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$0
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Additional
Cabinet Shelves
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$220
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$0
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Single Master
Key Locks
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$192.50
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$0
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Cable
Downspouts
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$825
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$0
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Cabinet
Caging
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Installation
Specific
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$3,300
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Custom
Installation
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Installation
Specific
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$0
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Cabinet
Equipment Storage
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$0
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$550
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Copper Patch
Cords
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$4.95 +$0.55
per foot
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$0
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Fiber Patch
Cords - Multi-mode
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$22 +$1.75
per meter
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$0
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Fiber Patch
Cords - Single-mode
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$26.40 +$0.825
per meter
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$0
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Twinax Patch
Cords
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$37.40 +$11.00 per
meter
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$0
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Power Cords -
5-15P to C13 - 2 to 4 feet
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$5.50
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$0
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Power Cords -
C14 to C19 - 2 to 4 feet
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$11
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$0
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PDU – Phase 1*
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$4,100
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$0
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PDU – Phase 3*
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$5,260
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$0
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Switch Monitored PDU Add On*
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$2,000
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$0
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Equipment
Storage
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$0
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$110
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Internet
Bandwidth - 1Mb
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$0
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$330
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Internet
Bandwidth - 2Mb
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$0
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$550
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Internet
Bandwidth - 3Mb
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$0
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$770
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Internet
Bandwidth - 4Mb
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$0
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$990
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Internet
Bandwidth - 5Mb
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$0
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$1,210
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GPS
Antenna - Shared
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$900
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$600
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Cabinet
Proximity Option Fee
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$0
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$1,100 per
medium or low density cabinet, or
$1,650 per medium/high or high density
cabinet
or
$3,000 per cabinet with power density >10kW
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Services
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Description
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Rate
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Power
Consulting Service (billed in hourly increments)
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$275/hr plus
materials if necessary
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Remote Hands
Service
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$151.50/hr
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*NY11-4 only.
1 Co-location services provided
by Nasdaq Technology Services LLC.
Adopted October 29, 2018 (SR-MRX-2018-33); amended December 19, 2018 (SR-MRX-2018-40), operative January 21,
2019; amended Sep. 29, 2023 (SR-MRX-2023-19), operative Oct. 1, 2023; amended Nov. 15, 2023 (SR-MRX-2023-21); amended Nov. 29, 2023 (SR-MRX-2023-24); amended Feb. 26, 2024 (SR-MRX-2024-03), operative Mar. 1, 2024; amended Mar. 1, 2024 (SR-MRX-2024-04); amended Mar. 1, 2024 (SR-MRX-2024-05); amended Mar. 13, 2024 (SR-MRX-2024-09); amended Apr. 29, 2024 (SR-MRX-2024-10); amended May 9, 2024 (SR-MRX-2024-12); amended Jun. 27, 2024 (SR-MRX-2024-18); amended Jul. 19, 2024 (SR-MRX-2024-28); amended Jul. 5, 2024 (SR-MRX-2024-23), operative Aug. 4, 2024; amended Jul. 15, 2024 (SR-MRX-2024-24), operative Aug. 15, 2024; amended Aug. 26, 2024 (SR-MRX-2024-34); amended Sep. 5, 2024 (SR-MRX-2024-36), operative Oct. 5, 2024" amended Sep. 24, 2024 (SR-MRX-2024-37), operative Oct. 7, 2024; amended Oct. 11, 2024 (SR-MRX-2024-41); amended Nov. 8, 2024 (SR-MRX-2024-43); amended Nov. 18, 2024 (SR-MRX-2024-44); amended Jan. 8, 2025 (SR-MRX-2025-02); amended Jan. 16, 2025 (SR-MRX-2025-04); amended Sep. 30, 2025 (SR-MRX-2025-27); amended Dec. 31, 2025 (SR-MRX-2025-34); amended Nov. 13, 2025 (SR-MRX-2025-29), operative Jan. 2, 2026; amended Jan. 15, 2026 (SR-MRX-2026-02).
Direct Connectivity services
are provided by Nasdaq Technology Services, LLC.
(a) Direct Circuit
Connection to the Exchange
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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Direct
Circuit Connection to the Exchange (10Gb)
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$1,650
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$8,250
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Direct
Circuit Connection to the Exchange (supports up to 1Gb)
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$1,650
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$2,750
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Direct
Circuit Connection to the Exchange (1Gb Ultra)
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$1,650
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$2,750
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Optional
Cable Router
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$1017.50
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Per U of
Cabinet Space*
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$165
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* Fees are based on a height
unit of approximately 1.75 inches high, commonly called a "U" space and a maximum power of 125 Watts per
U space.
(b) Direct Circuit
Connection to Third Party Services
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Description
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Installation
Fee
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Ongoing
Monthly Fee
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|
|
|
Third Party
Services Direct Connection (10Gb Ultra)
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$1,650*
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$5,500*
|
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Third Party
Services Direct Connection (1Gb Ultra)
|
$1,650*
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$2,200*
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Third Party
Services Direct Connection (1Gb Ultra or 10Gb Ultra for UTP only)
|
$110*
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$110*
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Optional
Cable Router
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$1017.50
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Per U of
Cabinet Space**
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$165
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* Waived for two connections per
client to UTP SIP feeds only (UQDF and UTDF).
** Fees are based on a height
unit of approximately 1.75 inches high, commonly called a "U" space and a maximum power of 125 Watts per
U space.
(c) Point of Presence
(POP) Connectivity
|
|
|
|
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Description
|
Installation
Fee
|
Ongoing
Monthly Fee
|
|
|
|
POP
Connection to the Exchange (10Gb)
|
$1,650
|
$8,250
|
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|
|
POP
Connection to the Exchange (1Gb Ultra)
|
$1,650
|
$2,750
|
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|
Adopted October 29, 2018 (SR-MRX-2018-33); amended December 19, 2018 (SR-MRX-2018-40), operative January 21,
2019; amended Mar. 1, 2024 (SR-MRX-2024-04); amended Apr. 29, 2024 (SR-MRX-2024-10); amended Jun. 27, 2024 (SR-MRX-2024-18); amended Aug. 26, 2024 (SR-MRX-2024-34); amended Oct. 11, 2024 (SR-MRX-2024-41); amended Nov. 8, 2024 (SR-MRX-2024-43).
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