The NASDAQ Opening Cross

Questions on The NASDAQ Opening Cross appear on several exams including the series 7 exam, series 62 exam, series 55 exam and series 24 exam. Here is some good information on the opening cross to help you pass your exam!

The Opening cross begins at 9:28 AM. At this time the NASDAQ Market Center Execution System (Super Montage) 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. Take some free exam questions on our site at www.securitiesce.com