Notice2026-11818
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule General 8 Connectivity
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 12, 2026
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 91 Issue 113 (Friday, June 12, 2026)</title>
</head>
<body><pre>
[Federal Register Volume 91, Number 113 (Friday, June 12, 2026)]
[Notices]
[Pages 35755-35758]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-11818]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-105643; File No. SR-NASDAQ-2026-050]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Rule General 8 Connectivity
June 9, 2026.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
[[Page 35756]]
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on May 29, 2026, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III, below, which Items have been prepared by the
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule General 8 (Connectivity) to (1)
remove from the list of services available under Rule General 8 certain
offerings that are no longer in use by customers of the Exchange, and
(2) update the terminology for certain technical specifications, as
described below.
The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/nasdaq/rulefilings">https://listingcenter.nasdaq.com/rulebook/nasdaq/rulefilings</a>, and at the principal office of the Exchange.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Rule General 8 (Connectivity) to (1)
remove services that are no longer in use by Exchange customers and (2)
update certain terminology for technical specifications, as described
below.
Removal of Certain Offerings No Longer in Use
The Exchange proposes to remove certain services from the list of
connectivity services available on the Exchange due to lack of users
and user demand for such services. Specifically, the Exchange proposes
to amend subsection (1)(b) of Rule General 8, Section (1) \3\ titled
``External Telco/Inter-Cabinet Connectivity'' to remove the following
connectivity services \4\ and their associated fees.
---------------------------------------------------------------------------
\3\ The Exchange further proposes to delete from Rule General 8
Section 1(b) the accompanying footnote designated with a double
asterisk and reading as follows: ``Includes fiber telco cross
connect within Nasdaq data center.''
\4\ The Exchange notes that no customers have subscribed to the
connectivity services outlined herein since or about September 2025.
<bullet> 100MB Connectivity--Metro NY/NJ Area Destination
<bullet> 1G Connectivity--Metro NY/NJ Area Destination
<bullet> 10G Connectivity--Metro NY/NJ Area Destination
<bullet> 100MB Connectivity--Toronto Area Destination
<bullet> 1G Connectivity--Toronto Area Destination
<bullet> 10G Connectivity--Toronto Area Destination
<bullet> 100MB Connectivity--Chicago Area Destination
<bullet> 1G Connectivity--Chicago Area Destination
<bullet> 10G Connectivity--Chicago Area Destination
Next, the Exchange proposes to amend the list of market data
connectivity services available under subsection 1(b) of Rule General 8
to delete the following market data feeds and services, as well as
their associated fees:\5\
---------------------------------------------------------------------------
\5\ The Exchange notes that no customers have subscribed to the
market data feeds and services outlined herein since or about August
2023.
<bullet> Nasdaq
<bullet> OpenBook Realtime
<bullet> NYSE Alerts
<bullet> NYSE Trades
<bullet> Arca Trades
<bullet> Arca BBO
<bullet> AMEX-Ultra/Trades/Alerts/LRP
<bullet> OPRA
<bullet> CME
<bullet> Access Fee per location device/user
<bullet> CBOE
<bullet> BZX Depth
<bullet> BYX Depth
<bullet> EDGA Depth
<bullet> EDGX Depth
<bullet> TSX/TSXV
<bullet> TSX and TSXV Level 1 Feed
<bullet> TSX and TSXV Level 2 Feed
<bullet> TSX Quantum Level 1 Feed
<bullet> TSX Quantum Level 2 Feed
Next, the Exchange proposes to amend Rule General 8 Section 1(d) to
delete from the list of additional services and products thereunder (1)
the product titled ``Cooling (Door) Fans'' \6\ as well as its
associated fees, and (2) the service titled ``Power Consulting Service
(billed in hourly increments)'' \7\ and its associated fees.
---------------------------------------------------------------------------
\6\ The Exchange notes that no customers have subscribed to or
otherwise used this service since at least on or about September
2025.
\7\ The Exchange notes that no customers have subscribed to or
otherwise used this service since at least on or about September
2025.
---------------------------------------------------------------------------
The Exchange believes that deleting the described product and
service, as proposed, is appropriate because no users currently have
orders for that product or service, and no users have ordered,
subscribed to or otherwise expressed interest in such product or
service since on or about September 2025. Accordingly, the Exchange
believes that there is no remaining demand for such services and thus
proposes to discontinue them as obsolete.
The Exchange does not expect that the proposed changes would have
any impact. As noted above, there are currently no users subscribing to
the product or service being removed, and no user has subscribed to or
otherwise ordered such product or service since as early as 2023.\8\
The proposed changes would not apply differently to distinct types or
sizes of market participants. Rather, they would apply to all Exchange
customers equally. As is currently the case, the purchase of any
connectivity product or service is completely voluntary and the
Exchange's connectivity fee schedule in Rule General 8 is applied
uniformly across all data center customers of the Exchange.
---------------------------------------------------------------------------
\8\ See supra notes 4-7 and accompanying text.
---------------------------------------------------------------------------
Updating Terminology for Certain Technical Specifications
The Exchange further proposes to amend its connectivity fee
schedule under Rule General 8 to update references to certain technical
specifications as follows. The Exchange proposes to amend Rule General
8, Section 1(c) (Power) to change all references to ``110 volt'' to
``110/120 volt.'' \9\ The Exchange believes this change is appropriate
because ``120 volts'' is the industry-standard term used to describe
the nominal voltage level for North American electrical systems.
Although terms such as 110V, 115V, and 120V are sometimes used
interchangeably, they refer to the same underlying system. Updating the
terminology in the fee schedule will thus promote clarity and align the
Exchange's references with prevailing industry usage.
---------------------------------------------------------------------------
\9\ See proposed Rule General 8, Section 1(c).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b)
[[Page 35757]]
of the Act,\10\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\11\ in particular, in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general to protect investors and the public
interest.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that discontinuing the offering of products
and services discussed above as proposed would perfect the mechanisms
of a free and open market and a national market system and, in general,
protect investors and the public interest. The products and services
that the Exchange proposes to remove from Rule General 8 have not been
used by data center customers for a considerable time; there are
currently no users subscribed to or using such offerings; and the
Exchange is aware of no interest in subscriptions for such products or
services. Accordingly, removing references to such products and
services as well as their associated fees from the list of offerings
available to data center customers of the Exchange would make Rule
General 8 easier to navigate, understand, and administer.
Moreover, the Exchange believes the proposal to update outdated
references to certain technical specifications will remove impediments
to and perfect the mechanism of a free and open market by improving the
clarity and accuracy of the Exchange's connectivity fee schedule under
Rule General 8. Specifically, replacing references to ``110 volt'' with
the industry-standard term ``110/120 volt'' will ensure that Rule
General 8 uses terminology that is consistent with prevailing technical
standards and commonly understood electrical specifications. The
Exchange believes that enhancing the precision and readability of its
rules benefits market participants and the public by reducing potential
confusion and promoting transparency.
The Exchange believes that the proposed rule change does not
significantly affect the protection of investors or the public
interest. The proposed rule change would delete obsolete products and
services from the Exchange's connectivity fee schedule under Rule
General 8 to enhance clarity and thus prevent potential customer
confusion. The Exchange believes that deleting obsolete services from
the Exchange's connectivity schedule would not permit unfair
discrimination, as the proposed changes would apply equally to all
users.
With respect to the proposed updates to certain outdated technical
specifications, the Exchange does not believe the proposed changes will
significantly affect the protection of investors or the public interest
because such changes consist of non-substantive changes to reflect
current rather than outdated terminology, which will facilitate the
understanding, use, and application of the Exchange's rules.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule changes will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed rule changes, both
the removal of obsolete services as well as the updating of certain
technical specifications, are not designed to address any competitive
issues but rather are designed to enhance the clarity and transparency
of the Exchange's connectivity fee schedule and prevent potential
customer confusion that may arise from the depiction of obsolete
offerings or outdated terminology. With respect to the removal of
obsolete offerings, the proposed changes will not impose any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act because these products and services have no current
subscribers, and their removal will not affect access or pricing for
any market participant. To the contrary, eliminating unused and
outdated offerings reduces potential confusion in the connectivity fee
schedule and promotes a clearer, more transparent set of available
services, which benefits all participants equally.
With respect to the proposed updates to certain outdated technical
specifications, the proposed changes will not impose any burden on
competition not necessary or appropriate in furtherance of the purposes
of the Act because the proposal consists of a non-substantive
terminology update that does not alter any service, functionality, or
fee.
The Exchange does not believe the proposed deletion of obsolete
offerings will impose any burden on intra-market or inter-market
competition. Because no market participant currently uses these
offerings, their removal cannot disadvantage any user or affect
competitive conditions within the Exchange or among competing
exchanges. In addition, and with respect to the proposed changes to
outdated references to certain technical specifications, the proposal
is purely a non-substantive terminology update which does not alter the
availability, pricing, or functionality of any connectivity service and
therefore has no competitive impact on any market participant or
competing exchange.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \12\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\13\
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A)(iii).
\13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#82f0f7eee7afe1edefefe7ecf6f1c2f1e7e1ace5edf4"><span class="__cf_email__" data-cfemail="cebcbba2abe3ada1a3a3aba0babd8ebdabade0a9a1b8">[email protected]</span></a>. Please include
file number SR-NASDAQ-2026-050 on the subject line.
[[Page 35758]]
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-NASDAQ-2026-050. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). Copies of the filing will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection.
All submissions should refer to file number SR-NASDAQ-2026-050 and
should be submitted on or before July 6, 2026.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-11818 Filed 6-11-26; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on June 12, 2026.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.