Nasdaq PHLX LLC Extends Dedicated GPS Antenna Service Termination Date to April 30, 2026

Nasdaq PHLX LLC (Phlx) filed a proposed rule change (SR-Phlx-2026-14) with the SEC on March 23, 2026, seeking to extend the termination date for its dedicated GPS antenna co-location service from April 1, 2026 to April 30, 2026. The dedicated GPS antenna service, offered at the Exchange's NY11 data center in Carteret, NJ, allows co-location customers to synchronize their time-recording systems with U.S. Government GPS network atomic time. The service carries a $1,500 installation fee and a $600 monthly fee; no new orders have been accepted since September 30, 2025. The extension is necessary because delays in procuring infrastructure for the new shared GPS antenna service pushed its completion date from March 1, 2026 to March 27, 2026. Without the extension, customers migrating from dedicated to shared GPS service would have had fewer than five days to test the new environment before their dedicated service was cut off. Approximately 49% of Phlx co-location customers subscribe to the GPS service, the majority of whom have already opted to migrate to the shared antenna option. Under the proposal, existing dedicated GPS antenna customers will continue to be charged the $600 monthly fee (prorated as appropriate) through April 30, 2026. No installation fee will be charged during the extension period since new orders are closed. Participation in the service through the extended date remains entirely voluntary; customers may terminate the dedicated GPS service at any time before April 30, 2026. The rule change took immediate effect under Section 19(b)(3)(A)(ii) of the Securities Exchange Act of 1934. The SEC may summarily suspend the change within 60 days if deemed necessary in the public interest or for investor protection. Public comments are due by April 22, 2026.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.