Nasdaq amends rulebook to drop obsolete market data connectivity offerings
Nasdaq market data customers are affected as fiber-optic offerings end September 30 2026 and wireless services had already terminated August 31 2025.
On August 14, 2026 The Nasdaq Stock Market LLC filed a proposed rule change (File No. SR-NASDAQ-2026-066, Release No. 34-106142) to amend Rule General 8, Section 1(b) and Equity 7, Section 115, and to discontinue a previously proposed Proximity-On-Demand (POD) offering. The SEC is publishing the notice to solicit comments.
The amendment removes certain fiber-optic-delivered market data connectivity offerings - SIAC, CTS/CQS, OpenBook Ultra, and ArcaBook Multicast - to the Nasdaq Data Center, together with their associated fees and explanatory language. The Exchange will terminate these offerings on September 30 2026 after providing existing customers with 90 days' notice; fewer than three customers currently subscribe, and the feeds are available from other vendors.
The proposal also deletes wireless multicast connectivity offerings - including NYSE Equities (Arca Integrated), NYSE Equities (NYSE Integrated), BATS Multicast PITCH for BZX and BYX, Direct EDGE Depth of Book for EDGA and EDGX, CME Multicast Total, CME Equities Futures Data Only, CME Fixed Income Futures Data Only, and CME Metals Futures Data Only - along with related installation, monthly, and volume-discount language. Those wireless services terminated effective August 31 2025, and the rulebook will be renumbered to reflect their removal, including the deletion of Remote Multicast ITCH Wave Ports provisions in Equity 7, Section 115(g)(1).
Equity 7, Section 115(c), which set fees for legacy Computer to Computer Interface (CTCI) stations for MFUND, is deleted because no subscriptions have existed since November 22 2021 and the FIX protocol now serves that function.
Finally, Nasdaq will not proceed with the POD offering described in SR-NASDAQ-2024-030; the offering never materialized due to insufficient demand and no fee filing was ever submitted. No new service, fee, or obligation is introduced by the changes.