Nasdaq Closing Cross
20+ Years Facilitating the Russell Reconstitution
June 23, 2023 marked the 20th anniversary of the Nasdaq Closing Cross facilitating the Russell Rebalance.
NASDAQ CLOSING CROSS
The Nasdaq Closing Cross is typically the largest liquidity event of the day on the Nasdaq Stock Market.
The Nasdaq Closing Cross is a price discovery facility that crosses orders at a single price in the final moments of the trading day. The Cross enables market participants to execute on-close interest and sets the official closing price for all Nasdaq-listed securities. It also provides a reflection of the true supply and demand for each symbol, providing unparalleled transparency into the market close.
Transparency and Fairness
The Cross plays a critical role in creating transparency and fairness for the market. It creates a level playing field for market participants by providing deep, detailed and continuous information on order imbalances in the final minutes of the trading day.
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The Cross plays a critical role in creating transparency and fairness for the market. It creates a level playing field for market participants by providing deep, detailed and continuous information on order imbalances in the final minutes of the trading day.