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IPO Indicator

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IPO Indicator Overview

To bring greater transparency and efficiency to the IPO process, Nasdaq has created the IPO Indicator* for use by all market participants. This unique tool, exclusive to Nasdaq and its member firms, allows member firms to see detail for all of their orders for an IPO during the pre-IPO quoting period. The IPO Indicator also shows the amount of shares that would execute for every order if the cross were to occur at that Indicative price and time. Underwriters and participants will now have access to more information to make better, more informed and more efficient trading decisions during the pre-IPO period.

The IPO indicator is a web-based tool that gives market participants access to the order price levels they have entered and the potential of fill for each order. These execution share counts and percentages are based on the current indicative price on the NOII and current time, as the IPO Indicator matches information from NOII and the user’s firm or MPID orders during the pre-IPO period. This data is enhanced by an execution summary table at the top of the application for a consolidated look for quick reference.

TheStreet: Web-Based Tool Gives
Nasdaq Traders Greater Order Detail

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* Pending SEC approval

IPO Indicator Screenshots

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Fact Sheet

Contact Information

Jay Heller, Nasdaq IPO Execution Officer, at: