Search:
   

Wednesday, October 2, 2019

Equity Trader Alert #2019 - 79
Nasdaq to Introduce New Enhanced Closing Price for ETPs

Category:

  • New Functionality

Markets Impacted:

  • The Nasdaq Stock Market

Contact Information:

Resources:

Subject to SEC approval, on October 14, 2019, Nasdaq will update how it establishes the closing price for a listed security that is an Exchange Traded Product when there is insufficient interest to conduct a closing auction.

More specifically, for such listed ETPs, in the absence of a closing auction the closing price will use a Time-Weighted Average of the Midpoint (T-WAM) of the NBBO during the time period 3:58:00 p.m. – 3:59:55 p.m. Only eligible quotes whose spread is no greater than a value of 10% of the midpoint price will be included in the T-WAM calculation.

For more information, please see the proposed rule change.

Please follow Nasdaq on Facebook RSS and Twitter.

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.

View NASDAQTrader.com Mobile