Series 55

By Jeff Van Blarcom AAA

Market Maker Responsibilities - The Opening Cross

The Opening cross begins at 9:28 AM. At this time the NASDAQ Market Center Execution System automatically executes orders. Orders placed after 9:28 AM may not be cancelled. Orders placed after 9:28 AM may only be changed if the change to the order makes the order more aggressive. A change that increases the size of the order or improves the price would make the order more aggressive. For a buy order an improved price would be a higher limit price, for a sell order an improved price would be a lower limit price. All orders that are executed during the opening cross will be reported to ACT with a .T modifier. The official NASDAQ opening print is disseminated by the system at “9:30 X”.



TAKE NOTE!



Orders that are entered prior to the opening for regular hours execution may not be canceled or modified during the opening cross.



Withdrawing Quotes

You May Also Like

Related Articles
  1. Professionals

    Breaking Down Financial Securities Licenses

  2. Professionals

    Sell-Side Analysts Need Series 86/87 ...

  3. Professionals

    Succeeding At The Series 63 Exam

  4. Professionals

    Becoming A Registered Investment Advisor

  5. Investing Basics

    Online Portfolio Management, DIY or ...

Trading Center