Reply To: Explain the determination of opening cross prices in NASDAQ.

[Victor Epand]

Nasdaq allows orders to be entered as Limit-on-Open and Market-on-Open since a trade can only occur when the purchase and sale prices match. Orders for MOO can be made, modified, or canceled between 7:30 am to 9:28 am. The price at which LOO orders are entered is known as the “limit” price. Trades are carried out at opening pricing and aim to match as many buyers and sellers as possible at 9:30 am. Only trades requested to occur at the “on open” order price and “imbalance only” orders are intended to increase liquidity and enable trading.