Nasdaq Texas Sets Fees for Liquid-Cooled Cabinets

On September 14, 2026 Nasdaq Texas, LLC filed a proposed rule change to amend Exchange Rule General 8 and establish fees for liquid-cooled cabinets in its expanded data center. The Securities and Exchange Commission published the notice on September 25, 2026, indicating that the amendment is immediately effective, with the fees slated for implementation during the fourth calendar quarter of 2026.

The amendment creates separate installation fees for liquid-cooled cabinets. Nasdaq-provided cabinets will be subject to a $5,490 installation fee and no ongoing monthly charge. Customers who supply their own cabinet will pay a $2,500 installation fee, also without a recurring monthly fee.

Power services for liquid-cooled cabinets will carry both installation and ongoing monthly fees, calculated per kilovolt-ampere (kVA). The per-kVA installation charge is $1,800 for a one-year commitment, $1,650 for two years, and $1,500 for three years. Corresponding monthly fees are $1,000, $900, and $800 per kVA for the same commitment terms.

These fees apply only to liquid-cooled cabinets located in the NY11-5 expansion of the Carteret, New Jersey data center. Customers may choose between a Nasdaq-provided cabinet or a customer-provided unit, with the service remaining optional and separate from traditional air-cooled offerings.

The SEC is soliciting comments on the proposed rule change. The filing is identified as Release No. 34-106496, File No. SR-NasdaqTX-2026-044, and can be reviewed on the Nasdaq listing center website or at the Exchange's principal office.