19th Consecutive Nasdaq Closing Cross Sets Record for Number of Shares Traded During 2022 Russell US Indexes Reconstitution
24 Giugno 2022 - 11:02PM
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 represents approximately 98% of the US equity market. Russell
US Indexes allow investors to track current and historical market
performance by specific market segment (large cap/small cap) or
investment style (growth/value/defensive/dynamic). Today,
approximately $12 trillion in assets are benchmarked to or invested
in products based on the Russell US Indexes.
Russell reconstitution day is one of the year’s most highly
anticipated and heaviest trading days in the US equity market, as
asset managers seek to reconfigure their portfolios to reflect the
composition of Russell's newly-reconstituted US indexes. The index
reconstitution process was completed today and the newly
reconstituted index membership will take effect when markets open
on Monday, June 27, 2022.
Please visit our website for more information on the Nasdaq
Closing Cross.
About NasdaqNasdaq (Nasdaq: NDAQ) is a global
technology company serving the capital markets and other
industries. Our diverse offering of data, analytics, software and
services enables clients to optimize and execute their business
vision with confidence. To learn more about the company, technology
solutions and career opportunities, visit us on LinkedIn, on
Twitter @Nasdaq, or at www.nasdaq.com.
About FTSE Russell:FTSE Russell is a global
index leader that provides innovative benchmarking, analytics and
data solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $20
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Cautionary Note Regarding Forward-Looking
Statements The matters described herein contain
forward-looking statements that are made under the Safe Harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these
statements are not guarantees of future performance. Actual results
may differ materially from those expressed or implied in the
forward-looking statements. Forward-looking statements involve a
number of risks, uncertainties or other factors beyond Nasdaq's
control. These factors include, but are not limited to factors
detailed in Nasdaq's annual report on Form 10-K, and periodic
reports filed with the U.S. Securities and Exchange Commission. We
undertake no obligation to release any revisions to any
forward-looking statements.
Nasdaq Media Contacts:Bianca Fata(646)
895-5851Bianca.Fata@nasdaq.com
FTSE Russell Media Contact:Simon Henrick+44
(0)20 7797 1222newsroom@lseg.com
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