What is a Closing Cross
The NASDAQ Closing cross is used to determine an official closing price for NASDAQ listed securities. The closing cross ensures that there is a uniform closing price at the end of the trading day for each security trading on NASDAQ
SecuritiesCE Explains Closing Cross
Nasdaq has developed the closing cross to determine a uniform closing price for securities at the end of the trading day. Customers and firms may enter or cancel on the close orders at any point starting at 7:00 a.m. up until 3:50 p.m. After 3:50 p.m., on the close orders may not be entered, canceled, or modified; orders entered as a legitimate error may be canceled up until 3:55 p.m. On the close orders that may be entered include both market and limit on close orders. Starting at 7:00 a.m. and up until the close of the market, firms may enter imbalance only orders. Imbalance-only orders must be priced and will not be executed prior to the close nor will they be included in the market maker’s displayed quote prior to the close.
Be sure you are ready to pass your exam with our Greenlight money back pass guarantee.
Good Luck on your Exam !
The Securities Institute of America, Inc.