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Tuesday, June 13, 2017

Equity Trader Alert #2017 - 130
REMINDER: Nasdaq Prepares for Russell Reconstitution on Friday, June 23, 2017

Category:

  • System Impact
  • Testing

Markets Impacted:

Contact Information:

Resources:

On Friday, June 23, 2017, Russell Investment Group will use the Nasdaq Closing Cross to price Nasdaq-listed securities for the annual reconstitution of Russell Investment Group's U.S. stock indexes.

Russell Reconstitution System Changes

Nasdaq will not be changing any system cut-off times or threshold percentages for the Closing Cross.

As a reminder the current Closing Cross timeline is:

Eastern Time (ET)

4:00 a.m. Nasdaq begins accepting On-Close and Imbalance-Only orders.
3:50 p.m.
  • Nasdaq stops accepting entry, cancellation or modification of On-Close orders.
  • Imbalance-Only orders may be entered but not canceled.
  • Dissemination of closing information begins.
4:00 p.m. Closing process begins

Nasdaq Contingency Plans

As Nasdaq and the securities industry prepare for the upcoming Russell Reconstitution, Nasdaq is highly confident that its systems will provide the reliability and capacity required to ensure a smooth, successful Reconstitution.

Nonetheless, for the past several years, in advance of the Russell Reconstitution, Nasdaq has published a Contingency Plan in order to prepare the industry for unusual market conditions.

Member Preparation

Members should carefully review Nasdaq's contingency plan and contact their sales representative or the Trade Desk with any specific questions.

Additionally, members should provide the Nasdaq Trade Desk with the name, email address and telephone number of the emergency contact whom Nasdaq should contact in the event of a system issue.

Market-Wide Call Details for the Russell Reconstitution

Nasdaq, in coordination with NYSE, NYSE Arca and NYSE MKT, will use a market-wide call to keep the industry informed throughout the afternoon of the Russell Reconstitution.

On Friday, June 23, 2017, Nasdaq, NYSE, NYSE Arca and NYSE MKT will hold a joint market- wide call beginning at 3:00 p.m., ET, and lasting approximately two hours. The call details are: To ensure that you are not delayed in the conference call queue as a result of the high call volume, please call in at least ten minutes early. The call details are:

Dial In: +1 800 936 9761
Conference ID#: 33413652
Topic: Russell Reconstitution
Leader: David Lawn

Please note that this call is closed to members of the media.

     

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