Thursday, September 16, 2021
Equity Trader Alert #2021 - 70
Nasdaq to Introduce an Extended Trading Close
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Pending SEC approval, The Nasdaq Stock Market (Nasdaq) plans to offer an Extended Trading Close (ETC), providing participants an additional opportunity to access liquidity in Nasdaq-listed securities at the Nasdaq Official Closing Price (as determined by the Closing Cross) for a limited period of time following the conclusion of the Nasdaq Closing Cross. More information on the exact date will be forthcoming. During the ETC, eligible orders will be accepted immediately following the conclusion of the Closing Cross, and will match continuously at the Closing Cross price up until the conclusion of ETC at 4:05 pm. (ETC will be from 1- 1:05pm on half trading days) Nasdaq will disseminate information about any order imbalance that exists in the ETC, along with executed shares since the beginning of the ETC. Note: the ETC has employed price collars with a threshold of 0.5% or $0.01 (whichever is greater) to ensure that the after hours price does not deviate too far away from the Closing Cross price. If a threshold is breached, ETC trading will be suspended until the price falls back within range. Orders eligible to participate in the ETC are:
ETC Timeline
For additional details, please refer to the Extended Trading Close FAQ. Testing OpportunitiesTesting is currently available in the Nasdaq Testing Facility (NTF). |
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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.