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Friday, February 25, 2022

Equity Trader Alert #2022 - 15
Nasdaq to Introduce The Extended Trading Close

Category:

  • New Functionality

Markets Impacted:

Contact Information:

Resources:

The Nasdaq Stock Market (Nasdaq) plans to roll out the Extended Trading Close (ETC) and the ETC Order Type on Monday, March 7th.

The Extended Trading Close (ETC) provides participants an additional opportunity to continuously match at the Nasdaq Official Closing Auction Price up until 4:05pm for Nasdaq listed stocks following the conclusion of the Nasdaq Closing Cross.

Orders eligible to participate in the ETC are:

  • LOC orders with a DAY or IOC TIF, submitted via FIX / RASHport, that were not fully executed in the Closing Cross will be automatically rolled over to ETC. Note: Customers have the option to opt out.

  • Nasdaq will be introducing a new order type, ETC orders, which may only be entered at the conclusion of the Closing Cross. ETC orders throughout their life are cancellable.

For additional details, please refer to the Extended Trading Close FAQ.

Testing Opportunities

Testing is currently available in the Nasdaq Testing Facility (NTF). The final customer Saturday UAT will be offered March 5th.

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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.

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