Nasdaq GEMX: Extension of Dedicated GPS Antenna Service Termination Date to April 30, 2026

Nasdaq GEMX, LLC filed a proposed rule change (SR-GEMX-2026-11) with the SEC on March 23, 2026, to extend the termination date for its dedicated GPS antenna co-location service from April 1, 2026, to April 30, 2026. The service allows firms co-locating servers at the NY11 data center in Carteret, NJ to synchronize their time-recording systems with the U.S. Government's GPS atomic clock network. The extension is necessary because infrastructure delays pushed the completion of the new shared GPS network from March 1, 2026, to March 27, 2026, leaving insufficient time for customers to test the new system before their dedicated antennas were removed. The dedicated GPS antenna service, which carries an installation fee of $1,500 and a monthly fee of $600, will no longer accept new orders as of September 30, 2025. During the extension period (April 1–30, 2026), existing customers will continue to be charged the $600 monthly fee on a prorated basis; no new installation fees will be assessed. Customers who wish to continue time synchronization services after April 30, 2026, must transition to the shared GPS antenna service ($900 installation, $600/month). Participation in the extension is voluntary — customers may terminate their dedicated service at any time before April 30, 2026. Approximately 49% of GEMX co-location customers subscribe to the GPS antenna service, with most already having opted for the shared antenna option. The rule change took immediate effect under Section 19(b)(3)(A)(ii) of the Securities Exchange Act of 1934, though the SEC retains the right to summarily suspend it within 60 days. Public comments were due by April 22, 2026.

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