NEW YORK, June 27 (Bernama-GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) today announced the Nasdaq Closing Cross was used for the 13th consecutive year to
rebalance Nasdaq-listed securities in the entire family of U.S. Russell indexes
during its annual reconstitution. Approximately 933 million shares representing $20.6 billion were
executed in the Nasdaq Closing Cross in 0.8 seconds across some 2,464
Nasdaq-listed stocks.
Nasdaq official closing prices (NOCPs) determined by the Nasdaq Closing Cross are widely used throughout the industry, by firms such as Russell Investments, S&P, Dow Jones, and many mutual funds across the country. The Nasdaq Closing Cross mechanism provides market participants with transparency and consistent prices with the dissemination of imbalances, indicative, and likely clearing prices every five seconds via the Net Order Imbalance Indicator. Nasdaq’s INET technology platform processes accurate closing prices for the industry in milliseconds.
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