Press release
19th Consecutive Nasdaq Closing Cross Sets Record for Number of Shares Traded During 2022 Russell US Indexes Reconstitution
NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today announced the Nasdaq Closing Cross had a record day as it was used for the 19th
About this update from Nasdaq, Inc.
[{"type":"text","content":"NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) today announced the Nasdaq Closing Cross had a record day as it was used for the 19th consecutive year to rebalance Nasdaq-listed securities in the entire family of Russell US Indexes, part of leading global index provider FTSE Russell, during its annual reconstitution. A record 3,314,650,992 shares representing $63.8 billion were executed in the Closing Cross in 2.04 seconds across Nasdaq-listed securities. This compares with 2,370,203,915 shares representing $80.9 billion executed in 1.97 seconds across Nasdaq-listed securities during Russell's 33rd annual reconstitution in 2021. “Today’s record-breaking Nasdaq Closing Cross is a testament to the continued investment in our technology,” said Tal Cohen, Executive Vice President and Head of North American Markets at Nasdaq. “We have worked diligently over the years to provide a best-in-class experience for all investors throughout some of the most volatile market periods on record. Nasdaq’s markets provide the most transparent and efficient price discovery process to ensure that FTSE Russell’s US indexes continue to accurately reflect the dynamic state of the equity markets.” “We’re delighted to celebrate yet another record-breaking year with Nasdaq for shares traded during our 34th Russell Reconstitution. Our annual index rebalancing remains such an important event for investors, ensuring that the Russell US Indexes accurately reflect the ever-changing state of the US equity market and its market segments. This year has been no exception, for the first time we have two companies with a total market cap of over $2 trillion and the first reshuffle of the largest five companies since 2019. Leveraging Nasdaq’s outstanding Closing Cross technology enables us to maintain the integrity and relevance of our leading suite of US benchmarks, keeping markets transparent,” said Susan Quintin, Global Head of Equity Index Product Management at FTSE Russell. The Closing Cross brings together the buy and sell interest for Nasdaq, NYSE and NYSE MKT stocks, and executes all shares for each stock at a single price, one that reflects the true supply and demand for these securities. All nationally listed securities are eligible for the Nasdaq Closing Cross. All Russell US Indexes are subsets of the Russell 3000® Index, which rep...