CLOSING CROSS
Price discovery mechanism on the Nasdaq crossing buy and sell orders at a single price at the end of a trading session. Traders can execute orders, both limit and market orders, at the final closing price. It sets the Nasdaq Official Closing Price (NOCP) for Nasdaq-listed securities. NOCP serves as the benchmark prices across the industry for computing mutual fund net asset values (NAVs) and index valuations.
The process starts at 4:00 p.m. EST and ends at five seconds past 4:00 p.m. EST. Same with the opening cross, it is open to all securities listed on the NYSE, NYSE Amex, NYSE Arca, and Nasdaq exchanges. Aside from price discovery and transparency, it also gives an avenue to resolve other imbalances which emerge in crucial events including index rebalances, and expiration dates for index futures and options.
POPULAR TERMS
Multinational Corporation - MNC
Hard Sell
Usury Laws
Capital Saturation
60-Plus Delinquencies
POPULAR ARTICLE
SEE FOREX TUTORIAL
Principles of Trading: Record Keeping and Taxation
Ethical Investing: Leaving an Ethical Imprint
Buying a Home: Writing an Offer
Buying a Home: Determining the Amount You Can Afford
Options Transaction Via Day Trading
ECONOMIC CALENDAR
Time | Country | Indices | Period |
---|---|---|---|
03:30 | NAB Business Confidence | Apr | |
05:00 | Expected Annual Inflation 2y from now | 2 quarter | |
09:00 | SECO Consumer Confidence | Apr | |
14:30 | Building Permits | Mar | |
18:45 | SNB Chairman Thomas Jordan Speaks | ||
00:45 | Visitor Arrivals | Mar | |
01:50 | Domestic Corporate Goods Price Index | Apr | |
08:00 | Claimant Count Change | Apr | |
08:00 | Average Earnings Index | Mar |