Nasdaq Closing Cross: The Largest Liquidity Event of the Day
Providing Transparency and Fairness for the Market
The Nasdaq Closing Cross
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.
Celebrating 20+ Years of Innovation
The Nasdaq Closing Cross launched in April 2004, and over the past 20+ years the Nasdaq Closing Cross has facilitated the execution of billions of dollars, thousands of symbols and millions of shares traded each day.
Trusted Fabric for Price Discovery
The Cross provides transparent price discovery technology and serves as part of the trusted fabric of the daily market close, on average executing 330 million shares representing $25.6B* traded each day.
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.
17%
of Total Nasdaq Volume Traded Daily*
$33B
Daily Value Traded*
414M
Shares Traded Daily*
*Source: Consolidated Tape from January to December 2025.